BMO Capital Downgrades Exelon (EXC) to Market Perform

BMO Capital analyst James M. Thalacker downgraded Exelon (NASDAQ: EXC) from Outperform to Market Perform with a price target of $49.00 (from $52.00).

The analyst comments: "We are lowering our rating on EXC to Market Perform. Today, PECO filed to withdraw its electric and gas rate cases. Although management has a track record of successfully navigating regulatory challenges, has reiterated its expectation of achieving EPS growth near the top end of its 5-7% outlook through 2029, and has noted that it will redeploy capital, delay projects, and execute operational efficiencies, we expect the stock to remain rangebound over the intermediate term given the lack of a visible path for multiple expansion. Our MTM-SOTP moves to $49."

For an analyst ratings summary and ratings history on Exelon click here. For more ratings news on Exelon click here.

Shares of Exelon closed at $47.59 yesterday.

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