Seeking Alpha

Wholesale power producer Calpine (CPN +2.5%) is upgraded to Overweight with a new $21 target...

Wholesale power producer Calpine (CPN +2.5%) is upgraded to Overweight with a new $21 target price based on improving fundamentals in Texas, where recent work by the state's public utility commission highlighted a tightening power market. Also cited: CPN's gas-fired profile not dependent on commodity prices, strong free cash flow generation, and a friendly shareholder track record.
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