UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Exelon Corporation

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Exelon Corporation

, but lowered its price target from $34.00 to $30.00. Jefferies noted, “Following an update of our forecast model we are increasing our 4Q12 earnings estimate by $0.05 to $0.60 and our full year estimate by $0.10 to $2.85. We are also increasing our 2013 estimate by $0.20 to reflect higher earnings expectations at the company's CWE and BG&E utility subsidiaries. We are reducing our 2015-15 estimates to reflect lower commodity price assumptions for gas and electricity.” Exelon Corporation closed on Tuesday at $29.61.