CEG Constellation Energy
EnergyPosition Summary
Shares
13
Avg Price
$290.12
Cost Basis
$3,772
Conviction
8/10
Investment Thesis
Largest US nuclear + gas + geothermal fleet post-Calpine. $5B buyback. 20%+ EPS CAGR 2026-2029. 65% upside to analyst PT.
Key Arguments
Bull Case
Largest clean baseload fleet. $5B buyback, 20%+ EPS growth target. Calpine closes the Crane gap. 65% upside to $450 PT.
Bear Case
Regulatory risk on nuclear. Power purchase agreements may not scale as expected.
What Would Make Us Sell
Nuclear policy reversal or loss of hyperscaler power contracts.