Morgan Stanley Boosts Exelon (NASDAQ:EXC) Price Target to $63.00

Exelon (NASDAQ:EXC) had its price target upped by research analysts at Morgan Stanley from $60.00 to $63.00 in a report issued on Tuesday, reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 37.43% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Exelon from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Mizuho boosted their target price on Exelon from $38.00 to $40.00 and gave the company an “underperform” rating in a research report on Thursday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Exelon currently has a consensus rating of “Buy” and a consensus target price of $46.63.

EXC opened at $45.84 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.96 and a quick ratio of 0.84. The business has a 50 day simple moving average of $45.35. Exelon has a 1-year low of $33.97 and a 1-year high of $47.36. The stock has a market cap of $44.79 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 5.12 and a beta of 0.44.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Wednesday, May 5th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.42). The firm had revenue of $9.86 billion for the quarter, compared to analysts’ expectations of $8.30 billion. Exelon had a net margin of 3.20% and a return on equity of 6.44%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. On average, sell-side analysts forecast that Exelon will post 2.78 EPS for the current year.

In other Exelon news, CEO Michael Innocenzo sold 16,000 shares of the business’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $44.99, for a total value of $719,840.00. Following the completion of the transaction, the chief executive officer now owns 56,382 shares in the company, valued at $2,536,626.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System grew its stake in shares of Exelon by 372.7% during the first quarter. Maryland State Retirement & Pension System now owns 74,561 shares of the company’s stock worth $3,261,000 after purchasing an additional 58,788 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Exelon during the fourth quarter worth $2,545,000. Van ECK Associates Corp lifted its position in Exelon by 16.1% in the first quarter. Van ECK Associates Corp now owns 43,940 shares of the company’s stock valued at $1,922,000 after acquiring an additional 6,092 shares during the last quarter. National Pension Service lifted its position in Exelon by 3.8% in the fourth quarter. National Pension Service now owns 1,377,190 shares of the company’s stock valued at $58,145,000 after acquiring an additional 50,130 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new stake in Exelon in the first quarter valued at $73,000. Hedge funds and other institutional investors own 78.76% of the company’s stock.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy generation, delivery, and marketing businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, biomass, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.

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