NRG Energy price target raised to $78 from $65 at Wells Fargo

Wells Fargo raised the firm’s price target on NRG Energy to $78 from $65 and keeps an Overweight rating on the shares. The firm cites higher retail energy and Vivint customer growth assumptions. Tightening power markets play into NRG’s hands as one of the largest retail energy service providers in the nation, Wells notes. Higher volatility and complexity should be positive for margins and market share opportunities given NRG’s scale advantages vs. competitors, the firm adds.