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
|Mar 2017||Morgan Stanley||Downgrades||Overweight||Equal-Weight|
|Feb 2017||KeyBanc||Upgrades||Sector Weight||Overweight|
|Jan 2017||Credit Suisse||Initiates Coverage On||Outperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.