Constellation Energy shares surge 5.57% after-hours as TD Cowen initiates Buy rating with $440 target and Meta expands nuclear energy partnerships.

Constellation Energy surged 5.57% in after-hours trading following two key developments: TD Cowen initiating coverage with a "Buy" rating and a $440 price target, and Meta Platforms announcing expanded nuclear energy partnerships. TD Cowen highlighted Constellation’s Calpine acquisition as a catalyst for contract growth, while Meta’s commitment to nuclear power—reaffirming its role as a major supplier—bolstered confidence in the company’s long-term revenue prospects. The analyst upgrade and corporate partnership align with Constellation’s strategic position in nuclear energy amid rising demand for carbon-free power, particularly for AI infrastructure. These factors, combined with Meta’s validation of nuclear energy’s role in decarbonization, drove the after-hours rally.