20 Trending AI Stocks on Latest Analyst Ratings and News

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8. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 71 

Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. The stock has gained over the past few days after the company announced plans to partner with tech giant Microsoft to reopen the Three Mile Island nuclear site in Pennsylvania. Pennsylvania Governor Josh Shapiro has reportedly written a letter asking grid operator PJM Interconnection to allow the Three Mile Island reactor to be allowed to come online as quickly as possible rather than waiting in the queue as if they were an entirely new development. PJM’s queue for new electricity generation projects has been shut down to new applications since 2021 and is not expected to reopen until 2026, and once it reopens, it is unlikely to be able to approve some new projects for years, Shapiro said.

In response to the new developments, Morgan Stanley analyst David Arcaro has raises his price target for Constellation Energy Corporation (NASDAQ:CEG) stock to $313 from $233 while reiterating an Outperform rating, saying in a research note that the company’s 20-year contract with Microsoft proves out the value of nuclear power for hyperscalers, with higher prices possible for future deals.

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