UPDATE - Barclays Upgrades GenOn (GEN) to Overweight
Tweet
Share
E-mailGet Alerts GEN Hot Sheet
Price: $26.67 +2.14%
Rating Summary:
8 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
8 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Join SI Premium – FREE
UPDATE - Barclays upgrades GenOn (NYSE: GEN) from Equalweight to Overweight.
Barclays analyst said, "We are raising GEN to a OW with a $5 target from $4 which represents 32% potential upside from current levels. We see $6 on asset value and $4 on 7.1x Open EBITDA. GEN stock has underperformed Power 7.0% YTD, 6.0% in the last month and the S&P 500 by 31% over 12 months. It is the most sensitive to higher gas prices; $1/Mcf is 35% of 2012E EBITDA and 2013E shows a strong uptick in EBITDA ($790M versus $536M in '12E). We also think it is possible for IPPs to participate in consolidation and reduce the cost structure through merger synergies."
Barclays analyst said, "We are raising GEN to a OW with a $5 target from $4 which represents 32% potential upside from current levels. We see $6 on asset value and $4 on 7.1x Open EBITDA. GEN stock has underperformed Power 7.0% YTD, 6.0% in the last month and the S&P 500 by 31% over 12 months. It is the most sensitive to higher gas prices; $1/Mcf is 35% of 2012E EBITDA and 2013E shows a strong uptick in EBITDA ($790M versus $536M in '12E). We also think it is possible for IPPs to participate in consolidation and reduce the cost structure through merger synergies."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Upgrades Bajaj Housing Finance (BAJAJHFL:IN) to Neutral
- Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
- JPMorgan Upgrades Nanya Technology Corp (2408:TT) to Overweight
Create E-mail Alert Related Categories
UpgradesRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
