UBS Maintains a 'Neutral' on NRG Energy (NRG); Taking Charge

UBS maintains a 'Neutral' on NRG Energy (NYSE: NRG), PT increased by $1 to $24.

UBS analyst says, "Adjusts pre-growth FCF guidance up by $175 Mn to $1-1.2 Bn - The increase reflects the return of $176 Mn in collateral and higher project funding of the Indian River scrubber ($62 Mn) offset by higher interest payments ($109 Mn) and higher maintenance capex ($15 Mn). In turn, mgmt also increased FCF (post-growth) by $300 Mn to reflect both reduced NINA funding as well as lower growth capex. Growth investments in ’11 have also been adjusted downwards on a seemingly smaller equity injection into El Segundo (more project funding.)" (UBS lowers FY11 EPS estimate from $0.95 to $0.46 and FY12 from $1.18 to $1.14)

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 $24.09 yesterday.

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