Market Overview

UPDATE: Jefferies Downgrades Exelon Corporation on Valuation

Related EXC
ComEd to Refund Customers $46M
Markets Tumble; Kellogg Lowers Full-Year Forecast
Mid-Market Report: M&A in Payment Systems and Utilities (Fox Business)

In a report published Wednesday, Jefferies analyst Paul B. Fremont downgraded the rating on Exelon Corporation (NYSE: EXC) from Hold to Underperform, and lowered the price target from $29.00 to $24.50.

In the report, Jefferies noted, “We are downgrading Exelon to Underperform from Hold based on valuation. The company currently trades at a group average P/E but, in our view, should trade at a discount based on the significant contribution of supply and other low multiple businesses to Exelon Generation results. Additionally, the high cash spending of Exelon on nuclear fuel and maintenance results in very little free cash flow generated by the company.”

Exelon Corporation closed on Tuesday at $28.69.

Latest Ratings for EXC

DateFirmActionFromTo
Aug 2014Tigress FinancialInitiates Coverage onNeutral
Aug 2014SunTrust Robinson HumphreyMaintainsNeutral
Aug 2014JefferiesMaintainsBuy

View More Analyst Ratings for EXC
View the Latest Analyst Ratings

Posted-In: Jefferies Paul B. FremontAnalyst Color Downgrades Analyst Ratings

 

Related Articles (EXC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters