10 AI Stocks Investors Are Watching Closely

5. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 83

Constellation Energy Corporation (NASDAQ:CEG) is one of the 10 AI Stocks Investors Are Watching Closely. On August 12, Mizuho analyst Paul Fremont raised the price target on the stock to $335.00 (from $325.00) while maintaining a Neutral rating.

The price target raise follows Constellation’s second-quarter earnings, where it reported adjusted earnings per share of $1.91, exceeding the consensus estimate of $1.85. The company also reaffirmed its full-year guidance range of $8.90-$9.60.

Mizuho noted how Constellation has accelerated the timeline for restarting the Crane Energy Center, and that hyperscaler contracts have become a part of normal business that is helping the company repurchase shares in the market as it works on new deals.

Constellation’s next hyperscaler deal announcement also appears to be “imminent”.

“CEG executed a $400m accelerated share repurchase, buying back $2.4B so far under its current authorization. The next hyperscaler deal announcement appears imminent, as management noted significant progress has been made with a counterparty. Separately, CEG continues to see strong interest from a growing number of entities, and is in the early- to mid-innings with other opportunities. We remain Neutral-rated on CEG and raise our PT to $335 (from $325) on current multiples.”

Constellation Energy Corporation (NASDAQ:CEG) is an energy provider specializing in clean, carbon-free energy solutions.