Scotiabank Sticks to Their Buy Rating for Exelon (EXC)

By Austin Angelo

Scotiabank analyst Andrew Weisel reiterated a Buy rating on Exelon (EXCResearch Report) on February 8 and set a price target of $50. The company’s shares opened today at $47.80, close to its 52-week high of $48.17.

According to TipRanks.com, Weisel is a 2-star analyst with an average return of 0.1% and a 53.3% success rate. Weisel covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Alliant Energy Corp.

Currently, the analyst consensus on Exelon is a Moderate Buy with an average price target of $49.29, which is a 3.1% upside from current levels. In a report issued on February 1, UBS also maintained a Buy rating on the stock with a $53 price target.

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Based on Exelon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $8.98 billion and net profit of $152 million. In comparison, last year the company earned revenue of $8.48 billion and had a net profit of $1.87 billion.

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Exelon Corp. operates as a utility services holding company, which engages in the energy generation, power marketing, and energy delivery business. The company operates through the following segments: Mid Atlantic, Midwest, New England, New York, Electric Reliability Council of Texas (ERCOT) and other Power Regions.