Exelon price target lowered to $39 from $41 at Wells Fargo

Wells Fargo lowered the firm’s price target on Exelon to $39 from $41 and keeps an Equal Weight rating on the shares. The stock’s earnings multiple discount relative to peers is “fair” in of light of regulatory and balance sheet considerations, the analyst tells investors in a research note. Aside from Illinois, the remaining 75% of Exelon’s operations are “doing quite well”, the firm added.