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Morgan Stanley says Constellation could top $300 on nuclear restart, these stocks could also rise

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The Baltimore-based nuclear operator's move to restart Three Mile Island could lead to more such deals, benefiting renewable and natural gas stocks as well.

Constellation Energy stock is still rising after the power company's landmark announcement last week that it plans to restart the Three Mile Island nuclear plant in Pennsylvania. Constellation jumped as much as 6.6% early Monday after soaring 22% on Friday. Morgan Stanley analysts led by David Arcaro see continued upside for Constellation, raising their price target to $313, implying a return of nearly 23% over Friday's close of $254.98.

76 per share. Renewable energy and natural gas stocks could also indirectly benefit from nuclear deals, according to Morgan Stanley analyst Stephen Byrd. Microsoft is not locating a data center directly at Three Mile Island. Rather, it is purchasing power from the plant to offset the emissions of its data centers. However, power companies such as Constellation and the tech sector are also interested in locating data centers at nuclear plants.

 

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