Constellation Energy rises after Alphabet reportedly nears multi-year nuclear energy deal
CEG•Constellation Energy shares rose 3% premarket after Alphabet reportedly neared a multi-year deal to buy nuclear energy from the company, reportedly worth $1 billion or more.
1. Reported energy deal
Alphabet, Google's parent, is nearing a multi-year deal to buy nuclear energy from Constellation Energy, a report said, citing people familiar with the matter. The deal is reportedly worth $1 billion or more. Alphabet could not immediately be reached for comment, while Constellation declined to comment.
2. Shares and ratings
Constellation shares rose 3% premarket. LSEG-compiled data showed 20 of 23 brokerages rated the stock “buy” or higher and three rated it “hold,” with a median price target of $341.62; as of the last close, the stock was down 24.2% year to date.
