BUZZ-Talen Energy rises after BofA initiate coverage with 'buy' rating

Shares of power provider Talen Energy TLN.O rise ~2% to $225.64

Brokerage BofA Global Research initiates coverage on stock with a "buy" rating, PT of $253

PT represents a 12.3% upside to TLN's closing price on Friday

BofA says it is bullish on stock given its lucrative Amazon AMZN.O data center contract with the Susquehanna nuclear plant and the prospect of higher power prices

Even with the prospect of AI app DeepSeek, the data center space is likely to grow, perhaps with more urgency benefiting independent power providers like TLN - BofA says

All of the 12 brokerages that cover the stock rate it "buy" or higher; their median PT is $253 - LSEG

In 2024, TLN stock rose ~215%