UBS raised the firm’s price target on Talen Energy (TLN) to $399 from $366 and keeps a Buy rating on the shares. Talen’s acquisition of the Moxie Freedom and Guernsey gas plants looks 9%-16% accretive to the stock and the company preserves the share repurchase plan of $500M per year, the analyst tells investors in a research note. UBS views the deal as Talen “extending the runway” of assets that they can leverage amid the power demand boom.
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