Scotiabank initiates coverage on power producers
** Brokerage Scotiabank initiates coverage on U.S. independent power producers on the back of robust outlook for electricity demand
** Brokerage says it has bullish fundamental views on the companies owing to downside protection, strong balance sheets and cash flow generation
** "Demand is coming not only from high-profile data centers and electrification, but also from manufacturers and other sources" - Scotiabank
** Adds that the independent power producer paradigm has shifted, allowing investors to focus on upside opportunities rather than downside risk
Initiates coverage for the following companies:
Company | Rating | Price Target | Upside/downside to stock's last close |
Constellation Energy CEG.O | Sector Outperform | $401 | 21.1% |
NRG Energy NRG.N | Sector Outperform | $212 | 28.9% |
Talen Energy TLN.O | Sector Perform | $418 | (1.3%) |
Vistra Corp VST.N | Sector Outperform | $256 | 21.1% |
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