UPDATE: Jefferies & Company Downgrades Exelon Corporation to Hold, Lowers PT

In a report published Friday, Jefferies & Company downgraded its rating on Exelon Corporation

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.