Market Overview

Deutsche Bank Reiterates Buy Rating, $34 PT on Exelon Corporation on Solid 2013 Guidance

Share:
Related EXC
Benzinga's Top Upgrades, Downgrades For February 14, 2017
12 Stocks You Should Be Watching Today

In a report published Friday, Deutsche Bank reiterated its Buy rating and $34.00 price target on Exelon Corporation (NYSE: EXC).

Deutsche Bank noted, “EXC still expect $3-6/MWh of upside to power forwards by 2015-16 from coal retirements, but are less certain on timing. While time will tell if the thesis plays out, the business plan and dividend are now positioned to weather the status quo. We think investors should find comfort in the sustainability of the dividend under EXC's stress cash scenarios, while those looking for an even more conservative approach likely aren't invested in the power-levered EXC story to begin with. Looking forward, EXC intends to utilize its increased financial flexibility to refocus on regulated and/or contracted growth opportunities, or at a minimum pursue value-additive debt reduction. Initial 2013 EPS guidance of $2.35 - $2.65 and the cash flow outlook were slightly stronger than our forecasts. Segment outlooks were stronger than expected for ExGen despite higher costs, and slightly weaker at the utilities (mostly ComEd). FY 2012 EPS was right in line with the midpoint of guidance, though Q4 cash flows ended up stronger than we anticipated.”

Exelon Corporation closed on Thursday at $31.37.

Latest Ratings for EXC

DateFirmActionFromTo
Feb 2017KeyBancUpgradesSector WeightOverweight
Jan 2017Credit SuisseInitiates Coverage OnOutperform
Nov 2016Morgan StanleyUpgradesEqual-WeightOverweight

View More Analyst Ratings for EXC
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Reiteration Analyst Ratings

 

Related Articles (EXC)

View Comments and Join the Discussion!