Shares of Constellation Energy Corp (CEG) soared 5.04% on Thursday during intraday trading, following a new "Buy" rating and increased coverage by analysts at William O'Neil.
The surge came after analysts at William O'Neil initiated coverage on the energy company with an "Overweight" rating, indicating their belief that the stock is currently undervalued and has significant upside potential. Analysts polled by FactSet have set an average price target of $312.90 for Constellation Energy, well above its current trading levels.
The bullish outlook from analysts suggests optimism around Constellation Energy's future prospects and growth opportunities within the energy sector. As more Wall Street firms weigh in with favorable ratings and increased price targets, the stock could potentially continue its upward momentum.
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