NRG Energy price target raised to $100 from $94 at BMO Capital

BMO Capital raised the firm’s price target on NRG Energy (NRG) to $100 from $94 and keeps a Market Perform rating on the shares. The company provided its much-anticipated long-term outlook refresh with its Q3 results, and both 2024 and 2025 EBITDA midpoints exceeded consensus estimates, the analyst tells investors in a research note. At an implied sub-12% free cash flow yield and 12-times P/E on 2026 estimates, and given NRG’s significant buybacks, upside leverage to power, and additional value creation potential, BMO sees incrementally favorable risk-return in its shares, the firm adds.