Vistra price target raised to $146 from $125 at BMO Capital

BMO Capital raised the firm’s price target on Vistra to $146 from $125 and keeps an Outperform rating on the shares after hosting its management team for discussions this week. The firm is positive on the stock’s fundamental outlook, noting the cyclical tightening in power supply/demand fundamentals and an associated improvement in pricing driven by economic development and data center demand due to a lack of sufficient dispatchable capacity and forward price well below new build economics. BMO also sees a “robust set of opportunities” for Vistra to expand its existing capacity and exposure to this accelerating demand outlook, with over 2GW of augmentation already identified, as well as over 150k acres of sites with transmission rights that could provide additional eexposure.