Vistra price target raised to $137 from $99 at Jefferies

Jefferies raised the firm’s price target on Vistra (VST) to $137 from $99 and keeps a Buy rating on the shares. Vistra shares have “been on a striking run in recent days,” gaining 34% over the past six trading days after the company announced the $3.25B acquisition of the 15% NCI in Vision and peer Constellation Energy (CEG) announced its “game-changing nuclear restart supported by a lucrative virtual PPA” with Microsoft (MSFT), the analyst noted. Constellation’s nuclear virtual PPA is constructive for both volume and pricing expectations, according to the analyst, who sees further potential upside for Vistra as the data center thesis continues to play out and maintains the stock as the firm’s “top pick in Power.”