Talen Energy price target raised to $380 from $326 at Jefferies

Jefferies raised the firm’s price target on Talen Energy (TLN) to $380 from $326 and keeps a Buy rating on the shares after the company announced the $3.8B gross acquisition of 2.9GW of efficient natural gas assets. Pro forma, Talen is increasing its GWh generation by 50%, as most of its existing roughly 8GWs gas is older vintage predominately capacity supported, says the analyst, who sees the deal “transforming the company.”