Constellation Energy Stock Deserves 'Substantial Premium To The S&P 500' Says JPMorgan Analyst
Constellation Energy Stock Deserves 'Substantial Premium To The S&P 500' Says JPMorgan Analyst
To top it off, Constellation Energy stock is experiencing impressive stock growth, up 145% year to date and 40.32% over the past month.As the largest producer of carbon-free power in the U.S., Constellation Energy Corp (NASDAQ:CEG) is turning heads in the energy sector.
作爲美國最大的無碳能源生產商，納斯達克上市的康斯泰拉能源公司(CEG)正在能源行業引人注目。
With a staggering capacity of over 33 GW — about 90% carbon-free — Constellation Energy carved out a niche that places it at the forefront of the nation's energy transformation.
康斯泰拉能源擁有超過33吉瓦的令人震撼的發電能力，約90%爲無碳能源，開闢了一個將其置於國家能源轉型前沿的利基市場。
The company operates the largest nuclear generation fleet in the U.S. with 22 GW, complemented by 2.5 GW from hydro, wind and solar sources.
該公司在美國擁有最大的核能發電規模，達到22吉瓦，並有來自水力、風力和太陽能等來源的2.5吉瓦。
To top it off, Constellation Energy stock is experiencing impressive stock growth, up 145% year to date and 40.32% over the past month.
更令人印象深刻的是，康斯泰拉能源股票經歷了令人矚目的股價增長，全年漲幅達145%，過去一個月上漲了40.32%。
JPMorgan Initiates Coverage On CEG, Sees 'Structural Tailwinds' Bouying The Stock
摩根大通開始對CEG進行覆蓋，看到了支撐該股票的「結構性順風」，
JPMorgan analyst Jeremy Tonet initiated coverage on Constellation Energy with an Overweight rating and a price target of $342. The stock is currently trading at around $281.
摩根大通分析師傑里米·託內特對康斯泰拉能源進行了超配評級，並設定了342美元的價格目標。該股目前交易價格約爲281美元。
"We see structural tailwinds, including manufacturing onshoring, broader electrification trends, as well data center development underpinning a paradigm shift in power demand," he noted. This sentiment reflects a growing recognition that the demand for carbon-free power will outpace competitive market supply growth.
「我們看到結構性順風，包括本土製造業回流、更廣泛的電氣化趨勢，以及數據中心發展，支撐着對電力需求範式轉變的認知。」他指出。這種觀點反映出人們越來越意識到對無碳能源的需求將超過競爭市場供應增長。
Tonets's report highlights Constellation Energy's unique positioning as the largest merchant nuclear generator in the U.S.
託內特的報告突出了康斯泰拉能源作爲美國最大的商業核發電機的獨特地位。
"More specifically, we see burgeoning hyperscaler demand growth focused on firm, carbon-free power, transforming nuclear power into a unique, scarce offering that will command a substantial premium."
更具體地說，我們看到日益增長的超大規模需求集中在穩定的、零碳發電，將核電轉化爲一種獨特、稀缺的供應，將能夠獲得大幅溢價。
The analyst is confident that Constellation Energy's nuclear franchise offers significant upside, especially as the company inks more contracts with hyperscalers looking for reliable energy sources.
分析師對康斯特能源的核業務前景持樂觀態度，特別是隨着公司與尋找可靠能源來源的超大規模用戶簽訂更多合同，前景看好。
Constellation Energy Investment Thesis
康斯特能源投資論點
Backing this bullish outlook is the nuclear Production Tax Credit (PTC). "CEG's unparalleled nuclear fleet underpins unique PTC-backed base business stability and leading EPS growth visibility, with upside from the largest nuclear contracting opportunity set," says Tonet.
支撐這種看漲的前景的是核生產稅收抵免（PTC）。Tonet表示：「CEG卓越的核電基建支持獨特的PTC支持的基礎業務穩定性和領先的每股收益增長可見度，同時還有來自最大核電合同機會組合的增長潛力。」
According to Tonet, Constellation Energy carries industry-leading growth visibility through the end of the decade. The company aims for a +13% base EPS CAGR through 2030, driven by nuclear contracting and enhanced margins.
根據Tonet的說法，康斯特能源在本年度末之前將實現行業領先的增長可見度。該公司旨在通過核電合同和增強的利潤率實現+13%的基礎每股收益複合年增長率，直至2030年。
With a strong balance sheet (less than 2.0x leverage) and investment-grade ratings, Constellation Energy is poised for strategic growth.
憑藉穩健的資產負債表（槓桿率低於2.0倍）和投資級別的評級，康斯特能源已經爲戰略增長做好準備。
Tonet notes, "We anticipate nuclear contracting to drive a large portion of CEG's upside as the company secures long-term agreements with hyperscalers at premium prices."
Tonet指出：「我們預計核電合同將推動CEG大部分增長，因爲公司與超大規模用戶簽訂長期協議，以優惠價格獲得稀缺供應。」
Read Also: CEG Stock Is Up 60% In A Month: Is Constellation Energy The New Power Play?
閱讀更多：康斯特能源股價一個月內上漲60%：康斯特能源是新的潛在投資標的嗎？
Constellation Energy – A Powerhouse In The Nuclear Sector
能源星座-核電領域的巨頭
As the energy landscape shifts, Constellation Energy stands out as a powerhouse in the nuclear sector. With a robust portfolio and a keen eye on emerging market trends, the company is not just generating electricity; it's generating excitement among investors.
隨着能源格局的改變，能源星座在覈電領域脫穎而出。憑藉強大的投資組合和對新興市場趨勢的敏銳眼光，該公司不僅僅是在發電；而是在投資者中引起了轟動。
As Tonet aptly summarizes, "Given CEG's stability, growth, upside opportunities, and strong balance sheet, we view these factors as deserving a substantial premium to the S&P 500."
正如託尼特貼切總結的，「鑑於CEG的穩定性、增長、上漲機會和強勁的資產負債表，我們認爲這些因素應當獲得較標普500指數更多的溢價。」
Investors will want to keep a close eye on this unique play in an evolving energy market.
投資者將希望密切關注這個在不斷演變的能源市場中獨特的投資機會。
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Photo: Bigjom Jom via Shutterstock
照片：Bigjom Jom通過 shutterstock
譯文內容由第三人軟體翻譯。
