NRG Energy initiated with an Overweight at Wells Fargo

Wells Fargo analyst Shahriar Pourreza initiated coverage of NRG Energy (NRG) with an Overweight rating and $202 price target The company looks well-positioned to capture incremental growth, which does not appear captured in the current valuation, the analyst tells investors in a research note. Updates and catalysts ahead of the LS Power close would include incremental data centers before year-end, progress relative to guidance and the upsides above the 14% EPS growth rate set after the acquisition announcement, the firm added.