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2 Utility Stocks Buzzing After Bull Notes

Constellation Energy and Vistra are two utility stocks to watch right now

Managing Editor
Oct 3, 2024 at 1:04 PM
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Utility stocks have been getting increased exposure lately, as artificial intelligence (AI) demands strain power grids across the globe. Analysts are reacting in real time, with electric utility stocks Constellation Energy Corp (NASDAQ:CEG) and Vistra Corp (NYSE:VST) both receiving price-target hikes today. 

CEG was last seen up 4.5% to trade at $277.24, and earlier hit a record high of $279.30, after RBC hiked its price target to $272 from $215. Last week, the stock received six price-target hikes in the wake of the company's 20-year purchase agreement with Microsoft (MSFT) to restart the nuclear plant Three Mile Island. The shares are now up 141% in 2024 and 165% in the last 12 months.

VST is up 6% to trade at $132.91, after RBC chimed in again with a price-target hike to $141 from $105. The shares earlier hit a record high of $135.29, and are now up 251% in 2024 alone. 

There's not a single "sell" rating to be found among CEG and VST, but both stock's consensus 12-month price target sits below their current perch, implying more bull notes could be in store that could add tailwinds to the outperformers. 

 

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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