Exelon price target lowered to $38 from $45 at RBC Capital

RBC Capital lowered the firm’s price target on Exelon to $38 from $45 and keeps a Sector Perform rating on the shares. The new headline ROE at ComEd by the Illinois Commerce Commission was disappointing, but the larger risk comes from the denied grid plan, as the written order highlighted “significant deficiencies”, the analyst tells investors in a research note. RBC adds it is struggling to see how Exelon can find an effective solution inside their three month timeline to refile.