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Exelon Corporation Message Board

  • mvstrategy mvstrategy Oct 16, 2013 4:56 PM Flag

    Basis for the Downgrade and Price Target Revision?

    Was it Morgan Keegan or Morgan Stanley that downgraded EXC? Also, does anyone have any information for the basis for the downgrade and the price target? Any color as to whether the current dividend is covered or potentially subject to another reduction would be appreciated.

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    • Thanks to all for the input. EXC scheduled to report October 30th. Consensus @.67cents (high @ .74 and low @ .63). Fingers remain crossed.

    • I believe it was Morgan Stanley although I saw another report with Morgan Keegan. Typical example of misinformation for us pikers to chew on. On past CCs, mgt. has emphasized that the dividend is safe. Will be interesting to hear their take on the next call. Dividend coverage is very healthy - remember that the Yahoo reported payout ratio is based on the previous year when the divy was higher. This will be adjusted downward after we get a full year of dividend payments at the adjusted $.31/qtr. level. EXC downgraded due to Marcellus and Utica shale potential to keep NG prices low. I really do think that Morgan Stanley (or whoever) is pulling a fast one on us pikers.

    • morgan stanley and a new price target from 36 to 21! Where was the analyst until now, out to lunch? It wouldnt be surprising to see yet another div cut, a pe of 21 isnt justified. And exactly why would anyone want to buy this stock? The Board should borrow at todays still low rate and buy back as much stock as it can to support this price or who knows where its going.

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