BMO Capital Markets has maintained its positive stance on Vistra Energy (NYSE: NYSE:), increasing the stock’s price target to $146 from the previous $125 while reiterating an Outperform rating.
The revision follows a recent dinner event hosted by BMO, which included key Vistra Corp management figures such as Chairman Scott Helm, EVP/CFO Kris Moldovan, EVP & President of Wholesale Operations & Development Steve Muscato, EVP of Public Affairs/Chief Strategy & Sustainability Officer Stacey Dore, and VP of Investor Relations Eric Micek.
During the dinner, discussions led to a reinforced positive outlook on Vistra Energy’s fundamental business aspects. The gathering provided an opportunity for the analyst to delve into the company’s operations and future prospects, which affirmed the firm’s confidence in Vistra’s performance.
According to the analyst’s commentary, the event yielded five key takeaways that underpinned the decision to raise the price target. The specifics of these takeaways were not disclosed, but they were influential enough to warrant an adjustment of the stock’s projected value.
In other recent news, Vistra Energy has made notable advancements. RBC Capital Markets raised its price target for Vistra Energy to $141, citing the company’s strategic decision to repurchase the minority interest in its subsidiary Vision and the growth potential in the energy sector. Jefferies and BMO Capital Markets also reported Vistra’s acquisition of a 15% non-controlling interest in Vision for $3.25 billion, expanding its portfolio and market presence.
Vistra’s second-quarter 2024 ongoing operations adjusted EBITDA showed a 40% year-over-year improvement, reaching $1.414 billion. This improvement is attributed to the company’s diversified portfolio and robust retail business.
The Public Utility Commission of Texas shortlisted 17 power plant projects, including those proposed by Vistra, for potential funding from the Texas Energy Fund. This initiative aims to strengthen the state’s power grid and mitigate future power shortages.
Jefferies initiated coverage of Vistra with a Buy rating and a price target of $99, while BMO Capital Markets increased its price target to $125, maintaining an Outperform rating.
InvestingPro Insights
Vistra Energy’s recent performance aligns with BMO Capital Markets’ bullish outlook. According to InvestingPro data, the company has shown remarkable growth, with a 327.93% price total return over the past year and a 246.75% return…
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