Deutsche Bank Downgrades NRG Energy (NRG) to Hold; Sidelined After Recent Strength, Deal Excitement
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Price: $28.62 +1.56%
Rating Summary:
13 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Rating Summary:
13 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Trade NRG Now!
Deutsche Bank downgraded NRG Energy (NYSE: NRG) from Buy to Hold. PT raised from $19 to $20.
Deutsche analyst said, "We are downgrading NRG to Hold as the stock has now rallied significantly from the April low on a combination of rising gas prices, excitement over summer optionality in ERCOT, and now the benefits of the GEN acquisition. We view the GenOn Energy (NYSE: GEN) deal as value neutral to key financial metrics on a recurring basis, while diluting NRG's upside optionality in the ERCOT market. We view merger synergies as achievable and found NRG and GEN's standalone 2014 financial projections to be encouraging. That said, following recent strength and given still uncertain gas and power markets, we no longer see material upside in NRG stock and move to the sidelines."
For an analyst ratings summary and ratings history on NRG Energy click here. For more ratings news on NRG Energy click here.
Shares of NRG Energy closed at $19.52 yesterday, with a 52 week range of $14.29-$25.66.
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Deutsche analyst said, "We are downgrading NRG to Hold as the stock has now rallied significantly from the April low on a combination of rising gas prices, excitement over summer optionality in ERCOT, and now the benefits of the GEN acquisition. We view the GenOn Energy (NYSE: GEN) deal as value neutral to key financial metrics on a recurring basis, while diluting NRG's upside optionality in the ERCOT market. We view merger synergies as achievable and found NRG and GEN's standalone 2014 financial projections to be encouraging. That said, following recent strength and given still uncertain gas and power markets, we no longer see material upside in NRG stock and move to the sidelines."
For an analyst ratings summary and ratings history on NRG Energy click here. For more ratings news on NRG Energy click here.
Shares of NRG Energy closed at $19.52 yesterday, with a 52 week range of $14.29-$25.66.
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