- Exelon (EXC +1.6%) is upgraded to Buy from Hold with a $39 price target at Argus, which expects low power prices, cash-flush consumers, and rising commercial and industrial activity to stimulate wholesale power markets over the next two years.
- EXC grew EPS in 2015 despite weak results in merchant (wholesale) generation due to the timing of nuclear projects and maintenance outages, Argus says, expecting more normal generation trends in 2016 along with steady-state growth at the company's regulated utilities.
-
Earlier: Pepco-Exelon merger talks continue, companies say (Mar. 4)