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Fly News Breaks for February 23, 2016
Feb 23, 2016 | 07:23 EDT
Citi analyst Praful Mehta downgraded Exelon (EXC) to Sell saying the Pepco Holdings (POM) deal is "value destructive." While Pepco adds $5B of equity value, it also adds $4B of additional parent net debt and 58M shares, Mehta tells inventors in a research note. He has a $27 price target for Exelon shares.