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Deutsche Bank upgrades Exelon, raises price target

Deutsche BankSecurities Inc. upgraded Exelon Corp.to "buy" from "hold" and raised its price target to $39 from$36.

"We areputting [Exelon] back on the Buy list as we view this genuine hybrid name as a wayto add exposure to a superior regulated growth story at a discounted valuation.We also see a favorable catalyst set-up with an Analyst Day coming on August 10and the potential establishment of a ZeroEmissions Credit in NY," Deutsche Bank analyst Jonathan Arnoldwrote July 22.

The brokeragealso increased its 2018 estimate by 5 cents to $2.80. The 2016 and 2017 EPS estimates remain at$2.55 and $2.65, respectively.