BMO Capital Markets raises PT for Constellation Energy on improved free cash flow forecast
BMO Capital Markets raises PT for utility Constellation Energy CEG.O to $375 from $350
New PT represents about 12% upside to the stock's last close on Friday
Brokerage says PT raise is due to a significantly improved free cash flow forecast, driven by the Calpine acquisition and favorable provisions in the One Big Beautiful Act
Brokerage expects the board to refresh its repurchase authorization in Q4 of 2025, concurrent with Calpine acquisition's close
"We were encouraged by management's comments on the velocity of discussions and the likelihood we could continue to see a steady trickle of announcements over the next 6-12 months" - BMO
Brokerage Raymond James also raises PT on CEG to $393 from $391
Twelve out of 17 brokerages rate stock "buy" or higher, five rate "hold"; with a median PT of $354, according to data compiled by LSEG
Including session's moves, CEG shares up 48.1% YTD
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