UPDATE - UBS Downgraded Exelon (EXC) to Neutral; Commodity Freefall

UPDATE - UBS downgraded Exelon (NYSE: EXC) from Buy to Neutral, price target lowered from $43 to $40.

UBS analyst said, "We are downgrading EXC, with a lower PT to reflect our lower EPS estimates following mgmt’s latest 4Q results; est. updates include the latest decline in the curve, compressed basis, and modestly higher ExGen O&M projections. Assuming deal completion, we see the dividend as maintainable in ‘14/15 and pro-forma FFO metrics as achieving stated rating agency targets."

UBS cuts FY12 EPS estimate from $3.23 to $2.95 and FY13 from $2.87 to $2.57.

To see more ratings on EXC, Click Here

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