Barclays Maintains an 'Overweight' on GenOn Energy (GEN); Well Positioned for HAP/MACT
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Price: $2.87 --0%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade GEN Now!
Barclays maintains an 'Overweight' on GenOn Energy (NYSE: GEN) price target of $5.00.
Barclays analyst says, "GEN's Q3 Adjusted EBITDA was $256M and EPS was $0.10 versus the $0.06 consensus. Merger synergies are on track for $160M with 93% achieved through 9/30/11. Adjusted EBITDA declined from a pro-forma $415M in Q3'10 as a result of lower unhedged energy margin (-$141M), lower contracted and capacity margin (-$53M) and higher value of hedges (+$4M). Operating expenses declined $31M." (Barclays lowers FY12 EPS estimate from (0.12) to (0.33))
"On the conference call GEN reminded investors that it expects the Environmental Protection Agency's Hazardous Air Pollutants rule (HAP/MACT) to be very positive for them in the second half of the decade. GEN has $2.3B of cash including funds on deposit of $0.6B which is plenty meet their capital expenditures, $575M 2014 maturity and complete construction of the 760 MW Marsh Landing plant."
For an analyst ratings summary and ratings history on GenOn Energy click here. For more ratings news on GenOn Energy click here.
Shares of GenOn Energy closed at $2.78 yesterday, with a 52 week range of $2.47-$4.35.
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Barclays analyst says, "GEN's Q3 Adjusted EBITDA was $256M and EPS was $0.10 versus the $0.06 consensus. Merger synergies are on track for $160M with 93% achieved through 9/30/11. Adjusted EBITDA declined from a pro-forma $415M in Q3'10 as a result of lower unhedged energy margin (-$141M), lower contracted and capacity margin (-$53M) and higher value of hedges (+$4M). Operating expenses declined $31M." (Barclays lowers FY12 EPS estimate from (0.12) to (0.33))
"On the conference call GEN reminded investors that it expects the Environmental Protection Agency's Hazardous Air Pollutants rule (HAP/MACT) to be very positive for them in the second half of the decade. GEN has $2.3B of cash including funds on deposit of $0.6B which is plenty meet their capital expenditures, $575M 2014 maturity and complete construction of the 760 MW Marsh Landing plant."
For an analyst ratings summary and ratings history on GenOn Energy click here. For more ratings news on GenOn Energy click here.
Shares of GenOn Energy closed at $2.78 yesterday, with a 52 week range of $2.47-$4.35.
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