BofA analyst Julien Dumoulin-Smith upgraded NRG Energy (NRG) to Neutral from Underperform with a price target of $32, down from $38, following the company’s announcement of an agreement to acquire Vivint Smart Home (VVNT). NRG shares have sold off "precipitously" since the deal announcement, bringing them to a level which he believes represents fair value pending more visibility into Vivint’s growth and free cash flow trajectory, Dumoulin-Smith tells investors.
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Published first on TheFly
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Read More on NRG:
- NRG Energy downgraded to Equal Weight from Overweight at Morgan Stanley
- NRG Energy price target lowered to $43 from $46 at BMO Capital
- Vivint Smart Home downgraded to Neutral from Overweight at JPMorgan
- NRG Energy downgraded to Sell from Neutral at UBS
- NRG Energy falls -13.9%
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