Constellation Energy (CEG) Passes Another Regulatory Hurdle For Three Mile Island Nuclear Plant

Constellation Energy Corporation (NASDAQ:CEG) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom. Constellation Energy Corporation (NASDAQ:CEG) is one of the energy companies solving the power bottleneck that AI infrastructure currently faces. The company’s stock has underperformed the broader market over the last year, but recent analyst sentiment and news suggest things might take a turn for the better soon. At the beginning of this month, Wells Fargo reaffirmed its price target on the stock to $516, which is also the highest price target on Wall Street.

Constellation Energy Corporation (NASDAQ:CEG) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom.

Photo from PBF Energy LinkedIn

In addition, US energy regulators advanced plans to restart the Three Mile Island nuclear power plant, allowing the company to transfer certain grid rights from its Eddystone plant to the Three Mile Island facility, which is intended to serve Microsoft’s data center energy needs. The regulatory progress on this front, as this is a 20-year agreement, should provide stable cash flow in the future. The company also has a similar 20-year power purchase agreement with Meta Platforms. Till the end of 2029, management expects the company to generate more than $20 billion in free cash flow, and lower regulatory hurdles will go a long way in helping it achieve that.

Constellation Energy Corporation (NASDAQ:CEG) operates as a producer and seller of energy products and services across the United States. It operates in the New York, Mid-Atlantic, ERCOT, Midwest, and Other Power Regions segments. The company provides energy-related products, electricity, natural gas, and sustainable solutions.

While we acknowledge the risk and potential of CEG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CEG and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best High-Bandwidth Memory (HBM4) Value Chain Stocks to Buy According to Hedge Funds and  12 Best Mid-Cap AI Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1