Constellation Energy gains as Guggenheim hikes PT

Cerro Grande Mining

25/03/2024 17:35

** Shares of electric utility Constellation Energy  CEG.O 
rise as much as 5.3% to hit record high of $187.73
    ** Brokerage Guggenheim raises co's PT to $199 from $124,
maintains "buy" rating
    ** New price target represents an 11.6% upside to the
stock's last close of $178.24
    ** "In light of CEG's reformulation around a bifurcated EPS
structure, we have recut our model to reflect the new disclosure
format, alongside a revisiting of our core valuation" -
brokerage
    ** 8 of 13 brokerages rate the stock "buy" or higher, 5
"hold" and none "sell" or lower; their median PT is $177 - LSEG
    ** Including session's gains, CEG stock has risen 60.3% YTD

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com;))