Raymond James Initiates Coverage of Constellation Energy (CEG)

Constellation Energy Corporation (NASDAQ:CEG) is counted among the Best Nuclear Energy Stocks to Buy Right Now. It was reported last week that Raymond James initiated coverage of CEG with an ‘Outperform’ rating and a price target of $326.

The analyst highlights the strategic advantage Constellation Energy Corporation (NASDAQ:CEG) gained from the acquisition and integration of the private merchant generator, Calpine. The blockbuster deal will turn Constellation into the largest independent power provider in the country, sharply growing its mix of natural gas-fired electricity generation.

Constellation Energy Corporation (NASDAQ:CEG) also made headlines this month when it signed a 20-year power purchase agreement (PPA) with Meta, with the tech giant buying around 1.12 GW of nuclear energy from Constellation’s Clinton Clean Energy Center in Illinois. The move provided a major boost to the overall nuclear energy industry, as it can serve as a model for Big Tech to support existing nuclear power plants, while also planning to power their data centers with new energy sources.

Constellation Energy Corporation (NASDAQ:CEG) is the largest producer of carbon-free energy in the US, with approximately 34,200 MW of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets.

While we acknowledge the potential of CEG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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