Bernstein initiates coverage of Constellation Energy with a $296 price target, citing long-term growth in data center power needs.
Constellation Energy (NASDAQ:CEG) has declined 25% year-to-date but analysts project a 34.09% rebound based on its nuclear fleet and rising hyperscale data center demand. The stock’s 12-month average price target signals significant upside from current levels.
Bernstein recently initiated coverage with an Outperform rating and a $296 target, highlighting the company’s role in the U.S. energy transition. The firm emphasized CEG’s stable regulated operations and expanding renewable portfolio as key drivers.
The bullish outlook reflects broader trends in energy production, with gas funding the transition and clean energy as the end goal. CEG’s emissions-free energy supply positions it favorably amid shifting demand dynamics.