BUZZ - Constellation shares rise due to 20-year nuclear power deal with Amazon

October 1 - ** Shares of Constellation Energy (CEG.O) rose 3.6% in premarket trading to $263.20

** The power company and Amazon (AMZN.O) announced (link) a 20-year power purchase agreement

** The agreement is expected to drive over $3 billion in infrastructure investment and add 190 megawatts of zero-emission generation capacity between 2030 and 2032

** The agreement will support the expansion of the Calvert Cliffs nuclear plant in Maryland

** Amazon’s long-term commitment is expected to support CEG’s efforts to renew the Calvert Cliffs nuclear plant's operating license for another 20 years

** Of 23 brokerages, 20 rate CEG as “buy” or above, and 3 rate it as “hold”; the median price target is $341.62

** As of the close of the previous trading day, CEG shares have fallen 28.1% year to date, while AMZN shares have risen 7.9% year to date

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