Talen Energy Corp (TLN) Receives a Buy from Evercore ISIWe Be Jammin', I Hope You Like PJM'in Too Talen's recent 3Q25 results were solid, reinforcing a positive outlook despite some muted excitement post-September. The company provided key data points that bolster the bullish stance, especially with the uptick in PJM forward curves and the economics for greenfield CCGT developments. Demand and Pricing: PJM load is showing strength with a ~3.4% year-over-year increase in Q3 energy deliveries. Realized prices improved significantly, with PJM West Hub on-peak prices averaging $61.89/MWh compared to $50.03/MWh in Q3 2024. Operations and Reliability: While safety and nuclear performance remained stable, an elevated forced-outage rate was noted due to Martins Creek repairs. These have since been resolved, and management highlighted a five-year extension at Susquehanna.