Wunderlich Maintaining Buy On Constallation Energy Group (CEG)

Wunderlich Securities is maintaining its Buy rating and $36 price target on shares of Constallation Energy Group CEG. In a note to clients, Wunderlich writes, "Constellation Energy (CEG) is scheduled to report first quarter earnings on Friday, May 6. We expect the company to report lower earnings for the quarter, reflecting the absence of a contract gain (from 1Q10), lower generation earnings, and a negative impact from the extremely cold weather in February in Texas in NewEnergy. Though our annual estimates are unchanged, we shifted earnings from the first quarter to the second half of the year. We continue to have a Buy rating on CEG shares, with a $36 price target." Shares of CEG lost 68 cents yesterday to close at $32.88, a loss of over 2%.