Northland Starts Hallador Energy (HNRG) at Outperform

Northland analyst Jeff Grampp initiates coverage on Hallador Energy (NASDAQ: HNRG) with a Outperform rating and a price target of $23.00.

The analyst comments "We are initiating on HNRG with an OP and $23 PT. HNRG is a vertically integrated independent power producer (“IPP”) that acquired a 1 GW power plant in 2022. The Company is negotiating a long-term contract for the majority of its capacity to a data center, potentially in the near-term, a key stock catalyst. HNRG also has low-priced legacy power contracts rolling off in 2025, providing a strong tailwind for 2026+ numbers. Our $23 PT is based on 7.5x EV/EBITDA, a ~25% discount to IPP peers."

For an analyst ratings summary and ratings history on Hallador Energy click here. For more ratings news on Hallador Energy click here.

Shares of Hallador Energy closed at $19.23 yesterday.

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