Shares of Constellation Energy rose 5.5% on Wednesday.
Morgan Stanley reiterated its Overweight rating and raised its price target from $369 to $378.
The updated view reflects growing confidence in Constellation’s strategy of securing long-term, multi-decade power purchase agreements with major technology companies. Recent deals with Google, Amazon and Meta are intended to provide stable revenue and supply carbon-free nuclear power for the growing energy needs of data centers and artificial intelligence infrastructure.