Shares of Constellation Energy Corp (CEG) are soaring 6.70% in pre-market trading on Monday, following a significant price target upgrade from BMO Capital. The surge comes as investors react positively to the bullish analyst sentiment.
BMO Capital has adjusted its price target on Constellation Energy to $337, up from the previous target of $291, while maintaining an Outperform rating on the stock. This represents a substantial increase in the expected value of the company, potentially driving the current rally.
The upgraded price target is part of a broader positive outlook for Constellation Energy. According to analysts polled by FactSet, the company currently has an average rating of overweight with a mean price target of $303.67. This consensus, combined with BMO Capital's even more optimistic view, suggests strong confidence in Constellation Energy's future performance and may be encouraging investors to buy the stock, contributing to the pre-market surge.
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