Constellation Energy (CEG) shares rose Thursday after Bank of America analysts upgraded the e꧒nergy company's stock and lifted their price target to near🐼 Wall Street's average.

The analysts upgraded their rating of Constellation stock to "buy" from "neutral" and raised their 澳洲幸运5官方开奖结果体彩网:price target to $269, a bit below the V♎isible Alpha consensus near $280, from $237. (The sto♐ck finished Wednesday just under $237.)

They pointed rising power demand and the potential for more exclusive agreements to power data centers like Constellation 澳洲幸运5官方开奖结果体彩网:announced earlier this year with Microsoft (MSFT).

Constellation Provides 'Unique Investment Opportunity' in Nuclear Industry

The analysts called Constellation a "unique investment opportunity" and said it has a number of positives like its recent growth, business model, and a "compelling valuation relative to peers."

Constellation remains undervalued despite "changing dynamics in the power market” like rising energy prices, which drove Constellation and 澳洲幸运5官方开奖结果体彩网:other nuclear stocks higher earlier this year, and demand for power that the analy𒐪sts see outpacing supply🥀.

A number of analysts 澳洲幸运5官方开奖结果体彩网:grew more bullish on Constellation after the Microsoft deal, which will see Unit 1 of the 🌜Three Mile Island complex in Pennsylvania re💟started to provide power to a Microsoft data center. The BofA analysts also noted risks including the possibility of lower prices, uranium supply chain issues, and regulatory uncertainty.

Last month, the 澳洲幸运5꧟官方开奖结果体彩网:Federal Energy Regulatory Commission (FERC) 澳洲幸运5官方开奖结果体彩网:temporarily blocked a data center power deal between Talen Energy (TLN) and Amazon (AMZN). The analysts wrote Thursday that the remaining uncertainty could delay future deal✅s between energy co🍌mpanies and tech giants.

Constellation shares, which were recently up nearly 3%, have more than✨ doubled in value since the start of 2024.