Report
Travis Miller
EUR 101.80 For Business Accounts Only

Exelon's Utilities Headed in a Different Direction Than Its Generation

We are reaffirming our $33 fair value estimate and our narrow moat and stable moat trend ratings for Exelon after the company announced earning $2.60 per share on an adjusted basis during 2017, down from $2.68 per share in 2016. Earnings were in line with our estimate and management's guidance. Our 2018 EPS estimate is in line with management's $2.90-$3.20 guidance range after considering tax benefits.
Exelon's distribution utilities continue driving the bulk of value, a dynamic we expect to per...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Travis Miller

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