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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