Utilities
Independent Power Producers & Energy Traders
2 companies under coverage.
Coverage
Independent Power Producers & Energy Traders
Equity Research
NRG Energy Inc. (NRG)
The bull case — 'Spike — Scarcity Pricing' (8% weight) — targets $266, +82% vs spot. It needs Gross Margin to surprise to the upside.
Equity Research
The AES Corporation (AES)
The bull case — 'Spike — Scarcity Pricing' (8% weight) — targets $24, +67% vs spot. It needs the multiple to hold or expand.