Why Constellation Energy Stock Slumped by More Than 6% Today

Fattened by a recent acquisition, Constellation Energy's (NASDAQ: CEG) profile has risen among investors. The downside is that when negative news about the company emerges, Mr. Market's reaction can be quite negative. An analyst's deep price target cut on Wednesday was such an occurrence; it was a key reason for Constellation's 6%-plus price drop across that trading session.The person behind the chop was Argus pundit John Eade, who reduced his fair value assessment on Constellation to $350 per share from $425, for a nearly 18% reduction. Despite this rather aggressive move, Eade maintained his buy recommendation on the energy producer. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool