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BUZZ-Citigroup raises PT on Constellation Energy post Q4 profit beat

Reuters
Feb 19
BUZZ-Citigroup raises PT on Constellation Energy post Q4 profit beat

** Citigroup raises PT on utility company Constellation Energy CEG.O to $334 from $284, representing a 2.6% upside to the stock's last close

** Brokerage says co beat fourth-quarter expectations, but focus remains on the upcoming Federal Energy Regulatory Commission (FERC) meeting on Thursday

** "At the FERC meeting, we don't expect any major changes in policy, but any movement to support co-location or constructive comments from chairman Mark Christie would be viewed positive for CEG," - Citigroup

** 12 of 17 brokerages rate the stock "buy" or higher, 5 "hold"; their median PT is $329 - data compiled by LSEG

** Up till last close, stock up 45.5% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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