Deutsche Bank Upgrades Exelon (EXC) to Buy, Sees Value after Steep Sell-Off
Tweet
Share
E-mailGet Alerts EXC Hot Sheet
Price: $45.06 -0.53%
Rating Summary:
8 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
8 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Upgrades Target Hospitality (TH) to Buy
- Hims and Hers (HIMS) PT Lowered to $35 at Barclays
- Marti Technologies (MRT) PT Raised to $6 at Benchmark on Stronger Growth, Improved Earnings Visibility
Create E-mail Alert Related Categories
Analyst PT Change, UpgradesRelated Entities
Deutsche Bank, Standard & Poor's, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
