Exelon (EXC) Price Target Trimmed at Morgan Stanley

Exelon Corporation (NASDAQ:EXC) is included among the 14 Best Utility Dividend Stocks to Buy Now.

Exelon Corporation (NASDAQ:EXC) is one of the country’s largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities.

On November 20, Morgan Stanley analyst David Arcaro lowered the firm’s price target on Exelon Corporation (NASDAQ:EXC) from $53 to $52, while maintaining an ‘Equal Weight’ rating on its shares, as reported by The Fly. The update comes as a result of the analyst firm adjusting its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage, while highlighting that the utilities sector underperformed the overall market last month.

Exelon Corporation (NASDAQ:EXC) reported better-than-expected results for its third quarter earlier this month, beating estimates in both profits and revenue due to slightly warmer weather and a mild storm season, along with timing-related drivers. The company also reaffirmed its operating earnings guidance of $2.64 to $2.74 per share for FY 2025. Exelon is targeting an annualized operating earnings growth rate of 5% to 7% through 2028.

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