Wells Fargo raised the firm’s price target on NRG Energy (NRG) to $130 from $120 and keeps an Overweight rating on the shares. NRG’s Q3 update could be a positive catalyst for shares as the shift to earnings per share as a primary metric will better illustrate the company’s strong growth outlook, the analyst tells investors in a research note. The firm added that it believes NRG will elect to use the midpoint of the revised EBITDA guidance as using the original midpoint would likely result in a front-end loaded compound annual growth rate.
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