Added to YB: 2026-01-26
Pitch date: 2026-01-23
CEG [bullish]
Constellation Energy Corporation
+1.78%
current return
Author Info
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Company Info
Constellation Energy Corporation produces and sells energy products and services in the United States.
Market Cap
$106.7B
Pitch Price
$286.55
Price Target
450.00 (+54%)
Dividend
0.53%
EV/EBITDA
18.24
P/E
33.71
EV/Sales
4.51
Sector
Electric Utilities
Category
growth
Constellation Energy: The Federal Reserve of the Electron
CEG (new position): Federal Reserve of the Electron - largest US nuclear operator (22 GW fleet, 50% merchant unregulated capacity) capturing AI infrastructure boom via hyperscaler PPAs. Microsoft TMI restart $110/MWh, Meta Clinton $80-88/MWh driving 13% EPS CAGR to $18.9 by 2030. Calpine acquisition creates 60 GW coast-to-coast behemoth. PJM capacity prices surged 10x to $329/MW-day on 18 GW (+$1bn annual revs). Trading 26x PE vs historical 15-25x pre-AI. Base case $400-450 on 40% nuclear fleet contracted >$80/MWh. Risks: regulatory intervention on affordability, emergency PJM auction diluting capacity prices, nuclear safety tail risk.
Read full article (46 min)