BofA initiated coverage of Talen Energy (TLN) with a Buy rating and $253 price target. The firm is “bullish” on the lucrative AWS (AMZN) data center contract for the Susquehanna nuclear plant, newly proposed RMR rates and the prospect of higher power prices, the analyst tells investors. Talen bids for more than 6 GW in the capacity auction and even with the competitive nature of the market, higher capacity prices are “hear to stay,” the analyst added.
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