Talen Energy price target raised to $280 from $258 at BofA

BofA raised the firm’s price target on Talen Energy (TLN) to $280 from $258 and keeps a Buy rating on the shares after peer Constellation Energy (CEG) announced a 20-year front-of-the-meter power purchase agreement with Meta (META) at its Clinton nuclear site. The firm adjusted its nuclear multiple to 14-times, from 11-times previously, due to the increasing likelihood of datacenter deals. Judging by the convergence of regulatory clarity and incremental deals, the firm sees datacenter deals on the horizon and feels confident about announcements, the analyst tells investors.