Constellation Energy Drops 10.9% on Hyperscaler Pullback Reports, PJM Rate-Cap Proposal, Plant Incident
Analyst forecasts largely held steady despite the selloff.
Overview
- Shares closed at $281.99, down 10.9% on the day, far outpacing the broader market’s decline.
- Industry reports say major tech hyperscalers are scaling back large power-purchase commitments tied to AI data centers.
- Coverage cites a proposed federal rate ceiling for the PJM grid that could restrict Constellation’s pricing power in its core market.
- A chemical release at a company facility resulted in worker hospitalizations, adding operational and safety concerns.
- Despite the slide, consensus still calls for Q1 EPS of $2.70 and about $38.71 billion in full-year revenue, while JPMorgan trimmed its price target to $400 and kept an overweight rating.