15 AI Stocks to Watch: News and Analyst Ratings

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5. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78

Constellation Energy Corporation (NASDAQ:CEG) is an energy provider specializing in clean, carbon-free energy solutions. This top Goldman Sachs’s Phase 2 AI Stock benefits from the growing demand for electricity from large AI data centers.

On November 21, KeyBanc Capital Markets’ research team shared its top ideas about which companies will benefit from the AI infrastructure buildout. One of them was Constellation Energy Corporation (NASDAQ:CEG). According to the firm, the C3Q24 earnings season largely continued to showcase robust demand trends around the data center hardware and infrastructure theme. In particular, the firm has an “Overweight” rating and a target of $298 for Constellation’s stock. They have cited the recent deal to restart a Pennsylvania nuclear reactor to provide power to Microsoft as a positive development for Constellation Energy Corporation (NASDAQ:CEG).

“Constellation Energy is continuing negotiations with a number of potential data center customers for co- location deals, and is making significant progress on contracting.”

-KeyBanc research team

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