Talen Energy price target raised to $496 from $424 at Seaport Research

Seaport Research raised the firm’s price target on Talen Energy (TLN) to $496 from $424 and keeps a Buy rating on the shares. Cash flows of thermal independent power producers are on the rise due to higher power and capacity prices, lower interest rates, and no cash taxes, the analyst tells investors in a research note. The firm expects more datacenter power deal announcements, as well as additional M&A and positive earnings revisions for thermal IPPs before the end of the year.