Evercore ISI raised the firm’s price target on Talen Energy (TLN) to $450 from $410 and keeps an Outperform rating on the shares after the company hosted a Virtual Investor Update, providing its formal 2026 guidance and its 2027-2028 outlooks, all of which the firm views as having meaningful conservatism baked in. Despite announcing an upsizing of its share repurchase program, Talen guided 2025 adjusted EBITDA to the lower end of its $975M-$1,125M previously guided range, citing a lack of market opportunities in July and August versus its initial expectations, however the conservative assumptions underpinning the company’s 2026-2028 financial framework provide attractive upside opportunity, Evercore says. The firm remains bullish on Talen shares and sees any near-term pressure on shares as a buying opportunity.
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