Constellation Energy rated Strong Buy with price target raised to $449 on AI-driven nuclear contract growth.

Constellation Energy has been reaffirmed as a Strong Buy with an increased price target of $449 following its Q2 2026 earnings. The company benefits from AI-driven power demand, securing 920 MW in new long-duration nuclear contracts and potential uprates of 1,100 MW, enhancing its growth prospects. Additionally, Calpine’s earnings and aggressive share buybacks are expected to drive EPS growth over 20% annually through 2029, making the stock's valuation attractive compared to its sector peers. This outlook supports a positive investment thesis for Constellation Energy's future performance.