Exelon Corp Price Targets Raised to $54 by Morgan Stanley, $51 by UBS
On February 20 Morgan Stanley raised Exelon’s price target to $54 from $51 and kept an Equal Weight rating, while UBS lifted its target to $51 from $48 with a Neutral rating. Both firms noted January utility underperformance and updated forecasts for North American regulated utilities and IPPs.
1. Analyst Price Target Increases
On February 20 Morgan Stanley boosted Exelon’s price objective to $54 from $51 while maintaining an Equal Weight rating. UBS followed suit the same day by raising its price target to $51 from $48 and retaining a Neutral rating.
2. Utility Underperformance and Forecast Updates
Both firms highlighted that the utility sector trailed the S&P 500 in January and accordingly raised their price forecasts for North American regulated and diversified utilities as well as independent power producers.
3. Q4 Earnings Preview Highlights
Morgan Stanley’s Q4 earnings preview anticipates balanced discussions around Exelon’s data center pipeline investments, factoring in project affordability and political influences on future capital allocation.