Talen Energy rises on deal to buy power stations for $3.5 billion

July 18 (Reuters) - Shares of power producer Talen Energy TLN.O rise 20.2% to $318.5

Company on Thursday said it is acquiring two power plants in Pennsylvania and Ohio for $3.5 billion

Talen expects the move to boost the company's cash flow by over 40% in 2026

Co will pay $1.46 billion in cash for Caithness Energy's Moxie Freedom Energy Center, in Pennsylvania, which controls 1,105 megawatts (MW) natural gas-fired combined cycle generation project

TLN will pay $2.33 billion in cash for the 1,875 MW Guernsey power station in Ohio, which is owned by Caithness and BlackRock

UBS raises PT to $399 from $366, a 51.1% upside to stock's last close

Evercore ISI raises PT to $372 from $306, a 40.9% upside to stock's last close

Including session's moves, stock up 59.8% YTD