As previously reported, Daiwa initiated coverage of Talen Energy (TLN) with a Buy rating and $248 price target. The firm, which sees “a convincing long-term investment narrative” in U.S. independent power producers amid the bullish long-term power demand outlook, picks Talen, the first in the analyst’s coverage, as “a point of preference given its robust shareholder value accretion and attractive valuation.” The “ground-breaking” agreement Talen signed with Amazon Web Services (AMZN) in March of 2023 “marked a new era” for the group, demonstrating how they can capitalize on significant power price premiums through power purchase agreements to “facilitate the AI revolution,” the analyst tells investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
