UPDATE: Jefferies & Company Downgrades Exelon Corporation to Hold, Lowers PT
In a report published Friday, Jefferies & Company downgraded its rating on Exelon Corporation (NYSE: EXC) from Buy to Hold, and lowered its price target from $39.50 to $34.00.
Jefferies noted, “We are lowering our rating to Hold from Buy based on concerns about a possible dividend reduction. Management indicated on its earnings conference call that if forward prices do not improve in the next six months, revisiting our dividend policy will be in the range of options for preserving our investment grade rating.”
Exelon Corporation closed on Thursday at $33.58.
Latest Ratings for EXC
|Feb 2015||Jefferies||Initiates Coverage on||Buy|
|Jan 2015||Wells Fargo||Upgrades||Market Perform||Outperform|
|Jan 2015||RBC Capital||Upgrades||Sector Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.