Jefferies Raises Price Target On Calpine (CPN) to $16.50 Following Q4 Results

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CPN Hot Sheet

Rating Summary:
10 Buy, 2 Hold, 0 Sell

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Up

Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38

Jefferies raised its price target on Calpine Corporation (NYSE: CPN) from $15.50 to $16.50, but kept its Hold rating following Q4 results.

The firm notes, "Calpine 4Q11 adjusted EBITDA was $379 million. Excluding the $10 million non-recurring contribution from insurance recoveries, the company's adjusted EBITDA would have been in line with the consensus estimate of $368 million. The company also tightened its 2012 adjusted EBITDA guidance to $1.600-$1.725 billion from $1.550-$1.750 billion after increasing the percent of generation hedged."

For an analyst ratings summary and ratings history on Calpine Corporation click here. For more ratings news on Calpine Corporation click here.

Shares of Calpine Corporation closed at $16.07 yesterday, with a 52 week range of $12.70-$17.08.

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