Exelon rated Buy with strong balance sheet, 3.65% dividend, and growth from data center demand.

Exelon Corporation is rated Buy due to its solid balance sheet, a 3.65% dividend yield, and a fully funded $41.3 billion capital plan. The company’s growth is driven by increasing demand from data centers, supporting an expected 7.9% annualized rate base growth and 5-7% long-term EPS growth through 2029. A discounted cash flow valuation suggests a long-term share price around $60 and a 1-year price target of $50-52, with limited downside risk. Key risks include regulatory changes to return on equity, rising debt costs, and potential slowing in the data center segment.