Deutsche Bank Upgrades Exelon (EXC) to Buy, Sees Value after Steep Sell-Off
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Price: $45.86 +0.57%
Rating Summary:
8 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank upgraded Exelon (NYSE: EXC) from Hold to Buy with a price target of $34.00 (from $33.00).
The firm comments, "We have been in the negative or cautious camp on EXC all year, most notably given our EPS outlook after the June Analyst Day and views on valuation. With the stock down 34% YTD and 20% this month after CEO Crane cast doubts on dividend sustainability, however, we now see an opportunity for the value investor. EXC has lagged utilities by 11% and the S&P by 20% in November, yet the outlook has actually improved slightly as gas/power prices have strengthened. While our call may be early given dividend tax hike fears and EXC's own unresolved dividend overhang, we now see more risk in being too late. '
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 $28.57 yesterday.
The firm comments, "We have been in the negative or cautious camp on EXC all year, most notably given our EPS outlook after the June Analyst Day and views on valuation. With the stock down 34% YTD and 20% this month after CEO Crane cast doubts on dividend sustainability, however, we now see an opportunity for the value investor. EXC has lagged utilities by 11% and the S&P by 20% in November, yet the outlook has actually improved slightly as gas/power prices have strengthened. While our call may be early given dividend tax hike fears and EXC's own unresolved dividend overhang, we now see more risk in being too late. '
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 $28.57 yesterday.
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