NRG Energy price target raised to $85 from $78 at Wells Fargo

Wells Fargo raised the firm’s price target on NRG Energy to $85 from $78 and keeps an Overweight rating on the shares after meeting with management. The analyst came away with a better understanding of NRG’s positive leverage to tightening power markets. The improving electricity demand outlook driven by industrial re-shoring, artificial intelligence-related data centers and electrification could lead to meaningful optimization opportunities for NRG’s uneconomic generation, the analyst tells investors in a research note.