Janney Montgomery Scott initiates ‘undervalued’ Vistra with a Buy

As previously reported, Janney Montgomery Scott analyst Thomas Meric initiated coverage of merchant independent power producer Vistra with a Buy rating and $82 fair value estimate. The firm thinks Vistra’s generation fleet, retail business, and operational flexibility are “currently undervalued” and will become more appreciated as grids become increasingly less reliable and more resource inadequate, the analyst tells investors. Near-term cash flow is well hedged and cash returned to shareholders is “strong,” the analyst added.