Barclays Reasons to Own Calpine (CPN) Shares
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Price: $15.25 --0%
Rating Summary:
8 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
8 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Barclays maintains an 'Overweight' on Calpine Corporation (NYSE: CPN) price target of $18.00.
Barclays analyst says, "In addition to CPN's attractive business mix the company opportunistically initiated a $300M stock buyback on 8/19. We expect good performance in CA and TX which are 70% of EBITDA to drive flattish 2012 results on trough PJM capacity prices. We are revising our 2011-2013 EBITDA forecasts to an above-consensus $1.74B/$1.73B/$1.99B versus $1.77B/$1.78B/$2.14B. We expect good plant operations in TX in August to help offset lower PJM prices, expiring hedges and the sale of the Colorado plants. We see Q3 EPS of $0.36 versus $0.39 last year."
For more ratings news on Calpine Corporation click here and for the rating history of Calpine Corporation click here.
Shares of Calpine Corporation closed at $14.46 yesterday.
Barclays analyst says, "In addition to CPN's attractive business mix the company opportunistically initiated a $300M stock buyback on 8/19. We expect good performance in CA and TX which are 70% of EBITDA to drive flattish 2012 results on trough PJM capacity prices. We are revising our 2011-2013 EBITDA forecasts to an above-consensus $1.74B/$1.73B/$1.99B versus $1.77B/$1.78B/$2.14B. We expect good plant operations in TX in August to help offset lower PJM prices, expiring hedges and the sale of the Colorado plants. We see Q3 EPS of $0.36 versus $0.39 last year."
For more ratings news on Calpine Corporation click here and for the rating history of Calpine Corporation click here.
Shares of Calpine Corporation closed at $14.46 yesterday.
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