BMO Capital raised the firm’s price target on Vistra (VST) to $147 from $146 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in Utilities, Power and Renewable energy space. The next several weeks are seen as very important to near-term trading in the power sector, which could be volatile given both earnings/FERC-related events that coincide in early November, though investors should remain focused on the positive fundamental backdrop for power vs. just contract announcements as the burgeoning supply-demand shortfalls will take at least 4-5 years to address, driving higher earnings and free cash flow, the analyst tells investors in a research note.
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