Why Constellation Energy Stock Tumbled on Tuesday

An analyst at a prominent U.S. bank took a pair of scissors to his Constellation Energy (NASDAQ: CEG) price target on Tuesday, and investors reacted accordingly. After that cut was enacted, many sold out of the utility stock, leaving it with a 4% decline on the day. Before market open, Shahriar Pourreza of Wells Fargo reduced his fair value assessment on Constellation to $460 per share. He previously flagged it as being worth $478. Despite the cut, he maintained his overweight (read: buy) recommendation on the energy company's shares. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool