Constellation Energy jumps after Alphabet enters into multi-year energy deal
BUZZ-Constellation Energy jumps after Alphabet enters into multi-year energy deal Updates
** US power company Constellation Energy's shares CEG.O rise 12.2% to $300.3
** Stock on track for its steepest one-day rise since April 2025, if gains hold
** Google parent Alphabet GOOGL.O enters into a multi-year deal to buy 3,590 megawatts of power from CEG
** The deal includes over $4.3 billion in new investment by Constellation and will expand capacity at several nuclear reactors in the Midwest and Mid-Atlantic regions
** GOOGL signs a 20-year deal to buy 890 MW of power from multiple CEG's nuclear plants, while also signing a long-term supply agreement for an additional 2,700 megawatts of power
** 20 of 23 brokerages rate CEG "buy" or higher and three "hold"; median PT is $341.62 - LSEG-compiled data
** Including session's move, CEG stock down 15.1%, while GOOGL up 10.7% YTD
(Reporting by Anand Gopal in Bengaluru)
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