Guggenheim raised the firm’s price target on NRG Energy (NRG) to $173 from $138 and keeps a Buy rating on the shares. NRG’s “blockbuster deal” for a portfolio of gas plants from LS Power is “another affirmation of our/industry views on the asset class and the commodity ‘supercycle,'” the analyst tells investors. The deal’s immediate accretion and “a sensible multiple are further augmented by the equity participation of the seller,” which the firm calls “a welcome vote of confidence in the proforma business.”
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