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Investing.com - BofA Securities raised its price target on Constellation Energy (NASDAQ:CEG) to $374.00 from $354.00 while maintaining a Buy rating on the stock. The new target represents a 13% upside from the current price of $331.49. According to InvestingPro data, the stock appears fairly valued based on its proprietary Fair Value model.
The price target increase reflects updated earnings per share estimates as the firm marked-to-market power prices and incorporated a $329.17/MW-day capacity price throughout its forecast period. The stock has shown strong momentum, delivering an impressive 77.8% return over the past year and 48.7% year-to-date.
BofA Securities maintained its fiscal year 2025 and 2026 EPS estimates at $9.31 and $10.37 respectively, while raising its 2027 EPS estimate to $13.61 from the previous $13.03.
The firm adjusted its 2027 peer group multiple to 17.4x from 17.2x previously, contributing to the higher price target.
Constellation Energy operates as a utility company providing power generation and energy services across the United States.
In other recent news, Constellation Energy reported its second-quarter 2025 earnings, with adjusted earnings per share reaching $1.91, surpassing the consensus estimate of $1.85. The company also reaffirmed its full-year guidance range of $8.90 to $9.60. Following these earnings results, several financial firms adjusted their price targets for Constellation Energy. Mizuho (NYSE:MFG) raised its target from $325 to $335 while maintaining a Neutral rating. BMO Capital increased its price target from $350 to $375 and maintained an Outperform rating. Raymond (NSE:RYMD) James adjusted its target slightly from $391 to $393, also keeping an Outperform rating. KeyBanc raised its target from $337 to $359, maintaining an Overweight rating. These developments underscore the positive reception of Constellation Energy’s financial performance among analysts.
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