Mizuho Securities Upgrades Exelon (EXC) to Buy

September 14, 2021 4:20 AM EDT
Get Alerts EXC Hot Sheet
Price: $54.04 -0.86%

Rating Summary:
    16 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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Mizuho Securities analyst Paul Fremont upgraded Exelon (NASDAQ: EXC) from Neutral to Buy with a price target of $53.00 (from $47.50).

The analyst comments "We are upgrading Exelon to Buy from Neutral following further improvement in forward commodity power markets. Additionally, the likely adoption of the energy bill in Illinois should provide Exelon with roughly $140 million in annual subsidies for its nuclear fleet and provide a positive path forward once formula rates expire in December 2023. Exelon is on track to achieve the separation of its merchant power business early in 2022, with the last remaining regulatory approval expected in New York at the end of this year. We are updating our PT to $53.00 (from $47.50) based on our revised EPS estimates and current market multiples."

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 $50.56 yesterday.

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