UBS analyst Ross Fowler upgraded NRG Energy to Neutral from Sell with a price target of $46, up from $33. While the firm has significant concerns about long-term growth prospects and ultimate cost structure and margins at the Vivint Smart Home business, the $950M in share repurchases that the South Texas Project sale proceeds will fund should limit downside in the intermediate term, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NRG:
- NRG Energy completes sale of interest in South Texas Project
- Constellation Energy completes acquisition of stake in Texas nuclear plant
- NRG Energy upgraded to Buy from Neutral at Guggenheim
- NRG Earnings this Week: How Will it Perform?
- NRG Energy and City of Pittsburgh extend wind power collaboration
