UPDATE: Wunderlich Securities Raises PT to $42 on Exelon Corporation Ahead of Analyst Day

Wunderlich Securities reduces its price target on Exelon Corporation

from $45 to $41, but reiterates its Buy rating on shares. Wunderlich Securities comments, "Exelon Corporation (EXC) will host an investor meeting on June 7 to provide earnings, capital spending, and financing requirements guidance on the heels of the March 12 completion of its merger with Constellation Energy. Though we expect EPS and cash flow to decline through 2014 (based on current forward curves), the new management team has an opportunity to emphasize its financial flexibility, strategic discipline, and dividend commitment. With low investor expectations, recent weakness in the stock, and the highest dividend yield in the sector, we expect management to focus on its capital spending flexibility and attractive asset position." EXC closed at $36.98 on Thursday.