As previously reported, Jefferies analyst Julien Dumoulin-Smith upgraded NRG Energy (NRG) to Buy from Hold with a price target of $113, up from $93, citing more confidence in the cross-selling thesis with upside to both estimates and valuation. The firm is increasing its 2029 EBITDA estimate to $4.5B, up about $230M from its prior estimate and almost $1B higher than the “sleepy” consensus, to more fully reflect the company’s $750M growth plan, the analyst tells investors.
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