On August 5, NRG Energy Inc rose 5.45% in regular trading, trading at $124.255/share, with turnover of $115 million. The stock rebounded from a 52-week low hit the prior session after Q2 adjusted EPS of $1.49 missed consensus estimates of $1.69-$1.72 by over 13%.
The rebound was supported by several positive catalysts disclosed during the earnings call. The company revealed its Texas hyperscale data center project could double from 1.2GW to 2.4GW, with the initial phase expected to generate at least $500 million in annualized adjusted EBITDA. Multiple customers across the broader project pipeline are seeking procurement of multiple gas turbines. Additionally, Q2 GAAP net income reached $506 million, swinging from a year-ago loss, while revenue of $7.481 billion beat estimates by approximately 11%.
Institutional analysts maintain an average target price of approximately $203, representing significant upside from current levels. Evercore ISI adjusted its target to $195 from $215, while Raymond James maintained a Strong Buy rating with a $182 target.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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