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Exelon (NYSE:EXC) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $42.50 price target on the stock, up from their previous price target of $37.50. Jefferies Group’s price target indicates a potential upside of 17.70% from the stock’s previous close. The analysts noted that the move was a valuation call.

Shares of Exelon (NYSE:EXC) traded up 0.83% during mid-day trading on Tuesday, hitting $36.41. 3,820,101 shares of the company’s stock traded hands. Exelon has a 1-year low of $26.45 and a 1-year high of $37.73. The stock’s 50-day moving average is $35.8 and its 200-day moving average is $31.58. The company has a market cap of $31.266 billion and a P/E ratio of 17.15. Exelon also was the recipient of a significant decline in short interest in May. As of May 30th, there was short interest totalling 24,975,630 shares, a decline of 14.9% from the May 15th total of 29,349,036 shares. Based on an average daily trading volume, of 8,845,467 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.9% of the company’s stock are sold short.

Exelon (NYSE:EXC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.69 by $0.07. The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts expect that Exelon will post $2.37 EPS for the current fiscal year.

EXC has been the subject of a number of other recent research reports. Analysts at Credit Suisse initiated coverage on shares of Exelon in a research note on Monday. They set an “outperform” rating on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Exelon in a research note on Tuesday, June 10th. They now have a $37.00 price target on the stock, up previously from $34.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Exelon in a research note on Thursday, May 22nd. They now have a $38.00 price target on the stock. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.86.

Exelon Corporation (NYSE:EXC) is an energy provider and holding company for several energy businesses.

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