Constellation (NASDAQ: CEG)

[admin]

Constellation controls over half of the US merchant nuclear pool and possesses the largest deliverable carbon-free inventory. While overall market sentiment and recent share price pullbacks have weighed on the stock (down from its 52-week highs), the sheer scale of the power demand from data centers provides a long-term catalyst. [1, 2, 3]
Because guidance excludes the unmodeled optionality of these uncontracted nuclear assets, the market's current fixation on near-term integration costs from the Calpine acquisition—which closed early in the year—may obscure the long-term structural advantage. [1, 2, 3]