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
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