Exelon boosted as Credit Suisse says bottom is in


"We believe expectations and fundamentals for competitive power have found a bottom, with the potential for a long awaited recovery to take form over the next 12 months," says the team boosting Exelon (EXC +3.7%) to Outperform with PT lifted to $35 from $23. The move comes as many on the sell side maintain their Sell ratings on the name.

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Comments (5)
  • Purple_K
    , contributor
    Comments (508) | Send Message
     
    Wow phenomenal call Credit Suisse! Calling the bottom after a 19% move up OFF BOTTOM.

     

    To whit: http://on.fb.me/1oFfMM1

     

    This is why analysts are worthless, and why you're better off managing your own money.
    21 Mar 2014, 11:21 AM Reply Like
  • Donald Johnson
    , contributor
    Comments (786) | Send Message
     
    MorningStar's estimated fair value for EXC has been at about $42 for a long time. M* says consider selling at $56.70. Valuentum.com's discounted cash flow fair value estimate is $37 with a range of $30 to $44.

     

    The still bearish EXC point and figure chart price objective still is $13. Support is at $26 and resistance is at $37 on the PNF chart. The 200-day moving average is $33.38.

     

    EXC July 32 calls are $1.45 bid, $1.55 ask with a 57% probability that the stock will be above $32 by mid July when the July contract expires. The probability that it will top $34 is 44%; $35, 22%; $36, 12%. Might be smart to do a covered call at the $35 or $36 July strikes.

     

    But I'm glad I haven't written covered calls on EXC. It would have been called away and I would have missed this move.
    21 Mar 2014, 11:51 AM Reply Like
  • Purple_K
    , contributor
    Comments (508) | Send Message
     
    Not sure if youre smacking me or agreeing, but my point, of course, is that "calling the bottom" months after it's happened isn't exactly market augury
    21 Mar 2014, 11:56 AM Reply Like
  • WPSPIKER
    , contributor
    Comments (1149) | Send Message
     
    Purple I agree:

     

    there are lots of good thinking people who open their electric bills every day and see how much it has gone up in last year. This means these electric companies are making lots more $ and also paying great dividends. The overall market is slowing down and high risk stocks are no longer in a good risk/reward position.

     

    I moved a lot of my $ away from higher risk stocks in Jan/Feb and moved into utilities with a good part of that. My most recent buy of (FE) and (EXC) for beaten down stocks both at very long term bottom support levels have turned.

     

    If they looked at long term trends and price support areas they would have seen this and moved price targets up much more.

     

    M
    21 Mar 2014, 11:40 AM Reply Like
  • Purple_K
    , contributor
    Comments (508) | Send Message
     
    10-4 on that. I'm just always baffled why people place so much weight behind what (usually agenda-driven) analysts have to say. They are so often a market contraindicator that you'd think people would learn by now.
    21 Mar 2014, 11:57 AM Reply Like
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