Morgan Stanley raised the firm’s price target on Talen Energy (TLN) to $470 from $443 and keeps an Overweight rating on the shares after the company announced the acquisition of 2.6 GW of gas generation assets in PJM from Energy Capital Partners. The firm likes the strategic rationale of expanding options for data center deals and increasing exposure to rising power prices and thinks the valuation “looks very attractive,” the analyst tells investors.
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