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Jefferies Downgrades Exelon (EXC) to Underperform

October 23, 2013 6:58 AM EDT Send to a Friend
Get Alerts EXC Hot Sheet
Price: $31.01 -1.46%

Rating Summary:
    5 Buy, 11 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 7
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Jefferies downgraded Exelon (NYSE: EXC) from Hold to Underperform with a price target of $24.50 (from $29.00) on valuation.

"The company currently trades at a group average P/E but, in our view, should trade at a discount based on the significant contribution of supply and other low multiple businesses to Exelon Generation results," analyst Paul Fremont notes. "Additionally, the high cash spending of Exelon on nuclear fuel and maintenance results in very little free cash flow generated by the company."

For an analyst ratings summary and ratings history on Exelon click here. For more ratings news on Exelon click here.

Shares of Exelon closed at $28.69 yesterday.




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