Exelon upgraded to Buy on overdone selloff at Mizuho

Mizuho upgraded Exelon to Buy from Neutral with a price target of $39, up from $36. . By 2026, Illinois distribution should represent 23% of Exelon’s earnings, and the negative environment in Illinois should be offset by a supportive Pennsylvania that is forecasted to make up 22% of 2026 earnings, the analyst tells investors in a research note. The firm says the company’s average growth rate should yield an average multiple. It believes the selloff in shares is overdone.