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Constellation Energy Stock Dips on Citi Downgrade, Recovers in Premarket
Constellation Energy Stock Dips on Citi Downgrade, Recovers in Premarket
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Constellation Energy Corporation (CEG) shares dropped over 4% after Citi downgraded the stock to neutral, citing valuation concerns following a 34% year-to-date rally. The brokerage simultaneously raised its price target from $232 to $318, signaling long-term confidence in the nuclear energy provider's growth trajectory.
Investors shrugged off the downgrade during premarket trading, with shares rebounding on the strength of Constellation's 20-year power purchase agreement with Meta and its acquisition of Calpine Energy. Federal support for nuclear energy continues to buoy sector sentiment.
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