Barclays (NYSE:BCS) said it has maintained its "Equalweight" rating on Constellation Energy (NYSE:CEG), while raising their earnings per share range.
"Raising our 2012 EPS to $2.30 from $2.14 and our 2013E is $3.00. We believe the prospects for NewEnergy at a range of $1.00-$1.40 for 2012 produces a range of $2.10-$2.50 for CEG. Getting to the higher end of the range requires $5/mwhr margins on Retail and $3/Mwhr for Wholesale including $0.50/MWhr of portfolio management. A mix shift to larger accounts also helps to control costs. We also include Boston Gen in our forecast starting in 2011."
Constellation closed Thursday at $32.04, gaining $0.04, or 0.13 percent. Volume was down from the 3-month average.
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