UPDATE: Morgan Stanley Initiates Equal-Weight, $40 PT on Exelon Corporation
Morgan Stanley initiated its coverage on Exelon Corporation (NYSE: EXC) with an Equal-weight rating and a price target of $40 a share. Analysts believe that while dividends limit downside on shares, gas limits upside.
Morgan Stanley commented, "EXC shares look fairly valued and have limited catalysts over the short to medium term, in our view. While we think Exelon's attractive dividend yield of 5.4% is sustainable, we also believe the stock is effectively reflecting a $4.50/mmBtu long-run natural gas price, consistent with peers."
Exelon Corporation closed at $39.49 on Monday.
Latest Ratings for EXC
|Jul 2015||SunTrust Robinson Humphrey||Maintains||Neutral|
|Jul 2015||Bank of America||Upgrades||Underperform||Neutral|
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