11:08 AM EDT, 03/25/2026 (MT Newswires) -- Constellation Energy ( CEG ) has significant upside potential as it unlocks value from multiple cash flow streams and the industry's largest nuclear fleet, Morgan Stanley said in a report Wednesday.

The firm said the stock reflects more than merchant power plants cash flow and highlighted 24/7 clean baseload generation, long asset lives after relicensing, data center land and interconnection, and expansion through uprates as sources of value.

Morgan Stanley said most of the company's fleet appears available for contracting, with attractive exposure to upside options.

The firm also said higher power prices are a meaningful benefit as demand growth continues and new supply is expensive and slow to add.

Shares of Constellation Energy ( CEG ) were 3.6% higher in Wednesday trading.

Morgan Stanley resumed coverage on Constellation Energy ( CEG ) with an overweight rating and a $385 price target.

Price: 305.79, Change: +10.94, Percent Change: +3.71