TD Cowen Raises Constellation Energy (CEG) Price Target to $374
Key Points
- TD Cowen increased its price target on Constellation Energy to $374, up from $368, reflecting a positive outlook.
- TD Cowen's $374 price target implies 45.41% upside from Constellation Energy Corporation's ($CEG) current $257.21 share price.
- The stock recently traded around $257.21, which is about 31.2% below the new analyst target.
- Barclays also raised its price target on the same day to $345, showing strong support for the stock among analysts.
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On October 27, 2026, TD Cowen raised its price target on Constellation Energy Corporation (CEG) to $374 from $368, while keeping a Buy rating. This adjustment comes as part of a broader analysis of the company's performance and market position. The source of this information is TD Cowen's research note from the same day.
CEG
Constellation Energy Corporation
TD Cowen vs. the S&P 500
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TD Cowen's Call on Constellation Energy
TD Cowen maintained a Buy rating on Constellation Energy, reflecting confidence in the company's future. The new price target of $374 suggests that analysts see significant upside potential from the current trading levels. The previous target was $368, indicating a steady increase in expected performance.
Other Institutional Activity in Constellation Energy
Several other funds have also been active with their positions in Constellation Energy. CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT added 13,800 shares, bringing its total to 120,800 shares worth about $30.7 million. Meanwhile, Ag2R la Mondiale Gestion D'Actifs reduced its holdings by 14,442 shares, ending with 16,100 shares valued at approximately $4.1 million. Highland Capital Management held steady at 20,958 shares, valued at about $5.3 million.
Constellation Energy Corporation Stock Up 1.5%
As of October 27, 2026, Constellation Energy's shares closed at $259.10. The stock has been trading below its 50-day moving average by about 6.0% and is also 31.2% below the new price target set by TD Cowen. The shares are currently about 36.7% lower than their 52-week high of $406.04, suggesting potential for recovery.
$CEG price target
Constellation Energy Corporation daily closes and this analyst's $374 target. Not advice.
Recent Earnings
Constellation Energy reported trailing twelve-month revenue of approximately $31.3 billion, with a year-over-year revenue growth of 23%. The next earnings report is scheduled for November 9, 2026, which will provide further insights into the company's performance and outlook.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.7%. Revenue beat estimates by 26.3%.
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Profit surprise
EBITDA beat by 14 percent. Operating income missed by 49 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise.
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Earnings quality
Gross margin up 30.2 points. Operating margin up 14.2 points. Positive free cash flow.
Earnings Call Summary
Constellation delivered a strong first quarter, earning $2.74 per share in adjusted operating earnings, mostly from Calpine accretion and higher capacity prices in PJM. The company also repurchased $335 million of stock at an average price of $285 per share. Management emphasized that regulatory clarity in PJM on large data center connections is expected by year end, which should unlock substantial customer contracting that has been paused pending those rules.
Guidance The company reaffirmed its full year earnings guidance of $11 to $12 per share. Management highlighted free cash flow of $8.4 billion across 2026 and 2027, with further growth to $11.5 billion to $13 billion in 2028 and 2029 before optional upside levers.
Good report. The company beat and showed some forward improvement, with a few meaningful caveats.
Insider Buying and Selling at Constellation Energy Corporation
On August 11, 2026, Director Roger W. Crandall bought 1,500 shares at an average price of $278.62, totaling about $417,931. This purchase indicates insider confidence in the company's prospects.
Analysts Set New Price Targets
On October 27, 2026, Barclays raised its price target on Constellation Energy to $345 from $324, while maintaining an Overweight rating. This aligns with TD Cowen's bullish stance, suggesting a consensus among analysts regarding the stock's potential.
About Constellation Energy
Constellation Energy Corporation produces and sells energy products and services across the United States. It operates through various segments, offering electricity, natural gas, and sustainable solutions. The company's diverse energy portfolio includes nuclear, wind, solar, and hydroelectric assets, making it a significant player in the utilities sector.
Bottom Line
Investors should keep an eye on the upcoming earnings report on November 9, 2026, for further insights into Constellation Energy's performance. With analysts showing strong support and recent adjustments in price targets, the stock may be positioned for potential movement in the near future.
Related Filing Alerts
Source: TD Cowen's rating change on $CEG (Oct 27, 2026). Written by software, not financial advice. How we make alerts