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Fly News Breaks for October 9, 2018
EXC
Oct 9, 2018 | 05:23 EDT
JPMorgan analyst Christopher Turnure downgraded Exelon to Neutral while raising his price target for the shares to $48 from $45. The shares at current levels are [ricing in "ample optionality" for PJM capacity market reform, Turnure tells investors in a research note. The analyst's 2021 earnings estimates are below consensus and he believes an additional cost cutting program will be required to offset earnings declines in the 2020-2021 period.
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