Jefferies Upgrades NRG Energy (NRG) to Buy
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Price: $122.37 -3.07%
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
24 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies upgraded NRG Energy (NYSE: NRG) from Hold to Buy and raised their price target from $26 to $27.
The firm said, "The company will be able to repurchase significant amounts of stock following the elimination of its restricted payments basket. At the latest, this is expected to occur in February 2012 when the debt becomes callable. Once this "basket" is retired, management will be able to significantly increase the amount of share repurchase."
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $23.06 yesterday.
The firm said, "The company will be able to repurchase significant amounts of stock following the elimination of its restricted payments basket. At the latest, this is expected to occur in February 2012 when the debt becomes callable. Once this "basket" is retired, management will be able to significantly increase the amount of share repurchase."
For more ratings news on NRG Energy click here and for the rating history of NRG Energy click here.
Shares of NRG Energy closed at $23.06 yesterday.
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