"Citi's thesis centers on two catalysts converging at the right time. Data center spending and a constructive Pennsylvania rate case are seen driving accelerating earnings growth through 2026 and beyond."
"Exelon's northern Illinois territory is experiencing approximately 26% CAGR in data center load, and the company has assembled a large load pipeline of approximately 19 GW, with roughly 45% secured through Transmission Security Agreements."
"A constructive rate case outcome in 2027 would unlock incremental distribution earnings, reinforcing the 5-7% EPS CAGR target through 2029."
Exelon Corporation has seen a year-to-date gain of 9.90% and a 9.65% increase over the past year, with shares trading at $48.27. Analysts have an average price target of $50.88, with Citi initiating coverage at a $58 target. Key growth drivers include significant data center load growth in northern Illinois and a positive Pennsylvania rate case. Exelon's grid supports AI infrastructure demand, and a constructive rate case outcome could enhance earnings growth through 2029.
Read at 24/7 Wall St.
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