Constellation rises on 20-year Amazon nuclear power deal

By Reuters News

** Constellation Energy CEG.O shares gain 3.6% to $263.20 premarket

** The power company and Amazon AMZN.O announce a 20-year power-purchase agreement

** Deal expected to spur over $3 billion in infrastructure investments, add 190 MW new emission-free capacity coming online between 2030 and 2032

** Deal supports expansion of Calvert Cliffs nuclear plant, Maryland

** Long-term AMZN commitment expected to support CEG efforts to renew Calvert Cliffs' operating license for 20 years

** 20 of 23 brokerages rate CEG "buy" or higher and three "hold"; median PT is $341.62

** As of last close, CEG stock down 28.1%, while AMZN up 7.9% YTD

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