Jefferies Cuts Target on Exelon (EXC), Keeps Buy Rating

Jefferies cut its price target on Exelon (NYSE: EXC) from $42 to $39 but kept its Buy rating.

The analyst comments, "Jefferies believes that Exelon's earnings and credit metrics can support the current dividend through the trough years of low power and gas prices. We anticipate that the company will reduce its capital spending levels at its merchant business thereby eliminating any need for equity issuance and lowering the anticipated level of leverage. Exelon EV/kW valuation looks attractive relative to peers."

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 $35.57 yesterday.

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