"Barclays believes Maryland and Pennsylvania are becoming less constructive jurisdictions for Exelon, and that this should result in a wider discount on Exelon's distribution portfolio on most comparatives."
"BMO Capital analyst James Thalacker lowered his Exelon stock price target to $49 from $52, citing increased regulatory risk that extends across Exelon's three primary operating companies."
"Mizuho analyst Anthony Crowdell cut his target to $48 from $51 and views the PECO withdrawal as an important signal for the degrading regulatory environment in Pennsylvania."
On April 17, Barclays, BMO Capital, and Mizuho downgraded Exelon, citing a worsening regulatory environment. The downgrade followed PECO Energy's withdrawal of its rate cases with the Pennsylvania Public Utility Commission. Barclays noted that Maryland and Pennsylvania are becoming less favorable for Exelon, impacting its distribution portfolio. BMO Capital lowered its price target to $49, while Mizuho cut its target to $48, both analysts expressing concerns over regulatory risks and lack of catalysts for stock re-rating.
Read at 24/7 Wall St.
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