NRG Energy price target raised to $99 from $86 at Morgan Stanley

Morgan Stanley raised the firm’s price target on NRG Energy (NRG) to $99 from $86 and keeps an Equal Weight rating on the shares. The firm’s raised target is mostly driven by the incorporation of the most recent EBITDA guidance, which was higher than its estimates, and the $750M growth initiatives through 2029 identified by the company along with Q3 results, the analyst tells investors.