Constellation Energy (CEG): Analyst Target Cut, Major Award, and Landmark Acquisition

Constellation Energy Corporation (NASDAQ:CEG) is one of the best hydrogen stocks to buy right now. On December 16, JPMorgan cut Constellation Energy Corporation (NASDAQ:CEG)’s price target to $410 from $422 while maintaining an Overweight rating, following updates to its model after the Q3 results.

On December 11, Constellation Energy Corporation received the “Energy Deal of the Year” award at the 2025 Platts Global Energy Awards. The award honors Constellation’s 20-year power purchase agreement with Microsoft, which enabled the restart of the Crane Clean Energy Center (Unit 1) in Londonderry Township, Pennsylvania. The Crane Clean Energy Center, formerly known as Three Mile Island Unit 1, was retired in 2019; its restart will generate 835 megawatts of carbon-free nuclear energy.

Under the agreement, Microsoft will purchase the full output to match electricity consumption at its data centers in the PJM Interconnection market. It will also support overall grid capacity and reliability. The project is expected to create more than 3,000 jobs, contribute over $16 billion to Pennsylvania’s GDP.

In a separate update, on December 5, Constellation reached a settlement with the US Department of Justice (DOJ) Antitrust Division, clearing the final regulatory hurdle to acquiring Calpine Corporation. The company had announced in January 2025 a cash-and-stock deal to acquire the privately held company, but the transaction was delayed by the DOJ’s civil antitrust lawsuit. This settlement allows the deal to proceed, which will create the largest US power generation fleet.

Constellation Energy Corporation (NASDAQ:CEG) is an American energy company that produces and sells electricity, natural gas, and sustainable energy solutions across the United States. The company is actively investing in and expanding clean energy technologies, including projects that support the integration of hydrogen into its power generation and distribution systems.

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Disclosure: None. This article is originally published at Insider Monkey.