Wells Fargo Analyst Gives Constellation Energy an Overweight Rating and Raises Price Target

As of June 5, 2023, Constellation Energy (NASDAQ:CEG) has been given an Overweight rating by Wells Fargo analyst Neil Kalton. The price target for the stock has also been raised from $115 to $120, indicating that Wells Fargo believes it to be a good investment with potential for price growth. However, it’s worth noting that other sources have different price targets. For instance, based on the analysis of 6 Wall Street analysts, the average price target is $93.67, while 10 analysts predict an average target of $97.80. These targets are based on different methodologies and timelines. It’s also worth mentioning that Wells Fargo has identified Constellation Energy as one of the energy names that will benefit from power shifts in 2050.

CEG Stock Opens Slightly Lower on June 5th, But Remains Stable Throughout the Day with High Volume Trading

On June 5, 2023, CEG stock opened at 88.66, which was slightly lower than the previous close of 88.88. The day’s range was between 87.27 and 89.05, indicating a relatively stable performance throughout the day. The volume of shares traded was 3,225,572, which was higher than the average volume of 2,197,069 over the past three months.

Constellation Energy Corp (CEG) Analysts Predict 10.84% Increase in Stock Price

On June 5, 2023, Constellation Energy Corp (CEG) had a median target price of $97.00, according to 12 analysts offering 12-month price forecasts. The high estimate was $120.00, while the low estimate was $89.00. The median estimate represented a +10.84% increase from the last price of $87.51.

Source: beststocks.com