Talen Energy (TLN) PT Raised to $225 at Oppenheimer

Oppenheimer analyst Ian Zaffino raised the price target on Talen Energy (NASDAQ: TLN) to $225.00 (from $180.00) while maintaining a Outperform rating.

The analyst commented: "TLN reported 3Q24 EBITDA of $230M vs. our/Street's $235M/$211M estimates, driven by higher power demand and increased generation for the PJM gas fleet. Revenues of $650M compare to our/Street's $560M/$522M estimates. The focus remains on the AWS data center deal and commercial options, RMR settlements, PJM market dynamics, among other topics. Despite the negative FERC ISA decision, management remains optimistic on the AWS data center deal, with a focus on commercial solutions. AWS is also committed to its partnership with TLN. The company raised the low-end of FY24 guidance: EBITDA of $750M-$780M (vs. $720M-$780M previously), and reaffirmed 2025 guidance. We raise our PT to $225, from $180, based on our updated SOTP valuation and increased confidence in the AWS data center build-out."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery