Jefferies Boosts PT on NRG Energy (NRG) 13% Following Q1 Report, Maintains Hold; Hightlights Debt Refi

Jefferies is boosting its price target on NRG Energy, Inc. (NYSE: NRG) by 13 percent, from $23 to $26 following first-quarter earnings from NRG. Jefferies is also maintaining its Hold rating on the shares.

Jefferies noted that investors focused on NRG's plans to retire debt "debt with restrictive convenants that among other things have limited the amount of capital that NRG can return to shareholders." Specifically, "these restrictions limit the amount of shares NRG can repurchase. The company plans to refinance the 2016 bonds in 2Q11 and the 2017 bonds in 1Q12 when the bonds are callable."

Jefferies highlights that NRG believes that its current environmental CAPEX forecast meets the new EPA rules.

For more analyst coverage on NRG, click here. To view a ratings history for NRG, click here.

NRG shares are trading 2.2 higher today.

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