Talen Energy price target lowered to $283 from $287 at Evercore ISI

Evercore ISI lowered the firm’s price target on Talen Energy (TLN) to $283 from $287 and keeps an Outperform rating on the shares. All of the major Independent Power Producers have reported their quarterly results over the last two weeks and for the most part IPPs faired relatively well during Q1 with strong adjusted EBITDA performance, according to the analyst, who expects the positive momentum to continue across the firm’s IPP coverage throughout the year. The firm is slightly reducing price targets for Talen and Vistra (VST), primarily due to peer multiple contraction, the analyst noted.