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CEG
Researchmedium conviction
Constellation Energy
$273
USD
-0.0%
Latest imported research note for this ticker.
longwatchPhase 5 demote — was held, sold per Phase 5 cut
Imported thesis
Pending sale (TFSA + FHSA). Demoted from Rank 1 anchor in Phase 5 cut — VST + GEV better express the live bottleneck. March 2026 guide miss + no new hyperscaler PPAs since June 2025. Action: reduce.
Imported reasoning
At $293 entry zone with 31% upside to consensus PT ($385.50). Barclays raised PT but thesis concerns remain — guide miss, no new PPAs, Calpine lockup risk. Watch for earnings May 5 catalyst.
Last imported
Apr 23, 02:30 p.m.
Source report
2026-04-23_core_refresh_brief.md
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Public watchlist context and imported research metadata.
Thesis
Constellation Energy. ~$293. Crane–Microsoft restart on track for H2 2027 (DOE $1B loan closed). But 2026 guide of $11–12 EPS missed $11.72 consensus; no new hyperscaler PPAs since June 2025; Meta PPA went to VST. Calpine lockup June 2026. Still core, not adding.
Sleeve
power
Consensus PT (USD)
$348
No holdings recorded for this ticker.
Held by SA-LP — 4.9% of fund (319,200 sh, +74% QoQ) as of 2025-06-30
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