Constellation Energy (CEG) PT Raised to $378 at Guggenheim amid Calpine deal

Constellation Energy (CEG) PT Raised to $274 at Jefferies

January 14, 2025 5:09 AM EST

Jefferies analyst Paul Zimbardo raised the price target on Constellation Energy (NASDAQ: CEG) to $274.00 (from $234.00) while maintaining a Hold rating.

The analyst comments "Calpine acquisition is positive and value accretive. CEG nuclear cash flows are more valuable than Calpine's natural... More

Constellation Energy (CEG) PT Raised to $358 at JPMorgan

January 13, 2025 8:18 AM EST

JPMorgan analyst Jeremy Tonet raised the price target on Constellation Energy (NASDAQ: CEG) to $358.00 (from $348.00) while maintaining a Overweight rating.

The analyst comments "In a blockbuster transaction to start the year, CEG announced the $29bn acquisition of Calpine, effectively combining the largest nuclear fleet with a significant coast-to-coast natural gas fleet (pro-forma totaling >60GW across all resources). The deal marks a... More

Constellation Energy (CEG) PT Raised to $307 at Mizuho

January 13, 2025 6:37 AM EST

(Updated - January 13, 2025 6:38 AM EST)

Mizuho analyst Paul Fremont raised the price target on Constellation Energy (NASDAQ: CEG) to $307.00 (from $235.00) while maintaining a Neutral rating.

The analyst commented: "CEG announced their intention to acquire Calpine (CPN), gas and renewable... More

Constellation Energy (CEG) PT Raised to $308 at BofA Securities

January 10, 2025 9:17 AM EST

BofA Securities analyst Ross Fowler raised the price target on Constellation Energy (NASDAQ: CEG) to $308.00 (from $269.00) while maintaining a Buy rating.

The analyst comments "We do not expect significant regulatory challenges. This transaction would likely require approval at the FERC for market power, the Department... More

Constellation Energy to buy Calpine in blockbuster $16.4 billion US power deal

January 10, 2025 7:04 AM EST

By Laila Kearney and Seher Dareen

NEW YORK (Reuters) -U.S. nuclear power provider Constellation Energy on Friday agreed to buy privately held natural gas and geothermal company Calpine Corp for $16.4 billion, one of the biggest acquisitions in U.S. power industry history.

The cash-and-stock deal comes at a time of rising electricity demand, driven by the proliferation of energy-guzzling AI data centers and the electrification of transportation and buildings, which are expected to hit a record this year. Including debt, the transaction valued Calpine at $26.6 billion. 

"Demand for our products is expected to grow by... More

Constellation Energy (CEG) to Acquire Calpine for $16.4 Billion in Cash and Stock

January 10, 2025 6:56 AM EST

Constellation (Nasdaq: CEG) and Calpine Corp. today announced they have entered into a definitive agreement under which Constellation will acquire Calpine in a cash and stock transaction valued at an equity purchase price of approximately $16.4 billion, composed of 50 million shares of Constellation stock and $4.5 billion in cash plus the assumption of approximately $12.7 billion of Calpine net debt. After accounting for cash that is expected to be generated by Calpine between signing and the expected closing date, as well as the value of tax attributes at Calpine, the net purchase price is $26.6 billion, reflecting an... More