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NRG Energy downgraded to Equal Weight from Overweight at Morgan Stanley
The Fly

NRG Energy downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst David Arcaro downgraded NRG Energy (NRG) to Equal Weight from Overweight with a price target of $37, down from $47. The company’s announced acquisition of Vivint Smart Home (VVNT) brings a "new more challenging" business, more debt and limited free cash flow initially, Arcaro tells investors in a research note. The analyst thinks investors will need to proof of cross-selling upside before becoming more comfortable with NRG’s "new risk profile."

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