Evercore ISI raised the firm’s price target on Talen Energy (TLN) to $372 from $306 and keeps an Outperform rating on the shares after the company announced the acquisition of the Moxie Freedom and Guernsey combined-cycle gas-fired plants for $3.5B net of $300M in tax benefits. The transaction is expected to be immediately accretive to free cash flow in FY26 and enhance the company’s free cash flow by greater than 50% through 2029, notes the analyst, who also calls the acquired assets “some of the youngest and most efficient assets we have seen traded during the recent bevy of IPP asset acquisitions.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TLN:
- Talen Energy price target raised to $380 from $326 at Jefferies
- Talen Energy price target raised to $330 from $300 at Morgan Stanley
- Talen Energy price target raised to $359 from $269 at Barclays
- Closing Bell Movers: Netflix slips despite ‘beat and raise’ Q2 report
- Talen Energy Acquires Moxie Freedom and Guernsey Stations