UPDATE: UBS Downgrades Exelon (EXC) to Sell; Retail/Power Trends Sliding

(Updated - September 12, 2012 11:03 AM EDT)

UBS downgraded Exelon (NYSE: EXC) from Neutral to Sell. PT cut from $37 to $31.

Analyst, Julien Dumoulin-Smith, said, "We downgrade EXC on weakening power prices of late and heat rates across PJM (~$3/MWh since Aug. for both PJM West and NI Hub), concerns around retail margin compression given, and downside to robust consensus EPS expectations following mgmt’s 2Q O&M (implicitly higher) guidance."

FY12 EPS estimate lowered from $2.85 to $2.77 and FY13 from $2.86 to $2.54.

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 $35.49 yesterday.

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