Exelon (EXC -1.5%) is downgraded to Sell from Neutral with a $31 price target at Citigroup,...

Exelon (EXC -1.5%) is downgraded to Sell from Neutral with a $31 price target at Citigroup, driven by its Street-low forecasted EPS outlook of $2.25 in 2014. The firm believes CENG O&M costs are not fully reflected in Street estimates. The downgrade is valuation driven; the firm says it has not changed its fundamental view of the company.

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Comments (4)
  • MexCom
    , contributor
    Comments (3069) | Send Message
    EXC is probably the best positioned utility for phase out of coal fired plants and having a fleet of nuclear power to replace the coal that is currently underutilized and poised to shift over to their retail demand. The wholesale power market got a boost this Summer but industrial demand is off. This downgrade to me is a grand opportunity to pick up some more shares. I'm long EXC.
    10 Sep 2012, 12:59 PM Reply Like
  • lkrhelming
    , contributor
    Comments (14) | Send Message
    I agree with MexCom about EXC being good long term investment.


    Short term, it might go down, especially with the negative rating by those who I no longer trust to give ratings. How can I trust Citigroup who is in the market itself making counter bets(investments) to whatever advice they may make. Investment banks should not be making ratings. Commercial banks are fine doing that but once anyone starts making bets in the market, I no longer trust them.


    I would appreciate comments on my view. Thanks.
    10 Sep 2012, 06:16 PM Reply Like
  • sabkop
    , contributor
    Comments (4) | Send Message
    I own excelon (peco) shares for over 30 years... it's time to replace the board and senior management. find a better team to create shareholder value.
    10 Sep 2012, 11:18 PM Reply Like
  • Mike Nadel
    , contributor
    Comments (19233) | Send Message
    I'd trust a cat burglar before I'd trust folks at Citigroup. That being said ... "sell" recommendations are still pretty rare.


    I have no interest in EXC, but even I'd have to consider it if it gets to 30.
    10 Sep 2012, 11:24 PM Reply Like
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