10 Exciting AI Stocks to Watch Right Now

7. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 83

Constellation Energy Corporation (NASDAQ:CEG) is one of the 10 Exciting AI Stocks to Watch Right Now. On September 8, Jefferies analyst Paul Zimbardo raised the price target on the stock to $347.00 (from $293.00) while maintaining a Hold rating.

According to Zimbardo, Constellation and other Independent Power Producers have lost steam since early August earnings with no or disappointing deal announcements. However, this is still up about 90% from early April lows.

Particularly for CEG, the analyst noted that since the stock already looks expensive as it bakes in future data center awards, the firm is staying cautious with a hold rating.

“Maintain Hold with CEG pricing in more than its peers but better profile after relative weakness. CEG prices in ~$142/sh data center value (~47% of stock price). We now assume 75% for ‘eligible’ nuclear portfolio (ex NY) or 13GW at $88/MWh and remaining 5GWs at $80/MWh + Clinton/Crane PPAs. Despite a meaningful increase in our PT, CEG is relatively pricey, embedding a very significant ‘market share’ of future data center awards.”

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