Why Constellation Energy Stock Tumbled on Tuesday
An analyst at a prominent U.S. bank took a pair of scissors to his Constellation Energy (NASDAQ: CEG) price target on Tuesday, and investors reacted accordingly. After that cut was enacted, many sold out of the utility stock, leaving it with a 4% decline on the day.
Before market open, Shahriar Pourreza of Wells Fargo reduced his fair value assessment on Constellation to $460 per share. He previously flagged it as being worth $478. Despite the cut, he maintained his overweight (read: buy) recommendation on the energy company's shares.
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Source Fool.com
