UBS raised the firm’s price target on Vistra (VST) to $207 from $160 and keeps a Buy rating on the shares. The price target raise reflects the strong fundamental backdrop UBS continues to see for power, the analyst tells investors in a research note. The combination of the “demand pull” backdrop for power, upward bias on wholesale power prices and potential upside growth from future contracting opportunities for gas assets supports pushing a higher valuation, the firm says.
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