Constellation Energy (CEG) Falls 10.9% as JPMorgan Price Cuts Price Target

Constellation Energy Corp. (NASDAQ:CEG) shares fell by 10.90% to close at $281.99 on Friday after JPMorgan cut its price target from $410 to $400 while maintaining an 'overweight' rating. The company raised $5 billion from the sale of approximately 4.4 gigawatts of natural-gas-fired generation capacity in Delaware and Pennsylvania as part of compliance with the Department of Justice's antitrust review of its acquisition of Calpine Corp.