Jefferies & Company Inc. Lowers Price Target And Estimates For Constellation Energy Group, Inc. (CEG)

Analyst Paul Fremont at Jefferies & Company Inc. has released an update on Constellation Energy Group, Inc. (NYSE: CEG). The company reported its first-quarter results, last week.

Constellation reported first-quarter operating EPS of $1.43 per share, which above Jefferies’ estimate of $1.10 and consensus of $1.06.

Jefferies & Company has lowered its 2011 and 2012 EPS estimate for the company. For 2010, EPS estimate has been lowered from $3.70 to $3.50, while for 2011; it has been lowered from $2.95 to $2.65. The price target for the company has been lowered from $42.50 to $41.

Jefferies & Company inc. has maintained its Buy rating for Constellation Energy Group, Inc.