Utilities
Independent Power Producers & Energy Traders
3 companies under coverage.
Coverage
Independent Power Producers & Energy Traders
Equity Research
Talen Energy Corporation (TLN)
BUY. 12-month probability-weighted target $364 (+19% vs spot). P/E Multiple explains 78% of Monte Carlo outcome variance.
Equity Research
NRG Energy Inc. (NRG)
BUY. 12-month probability-weighted target $137 (+22% vs spot). Gross Margin explains 61% of Monte Carlo outcome variance.
Equity Research
The AES Corporation (AES)
At $14.82 (30 July 2026) AES trades on roughly 6.4 times forward earnings against a merchant-utility peer median near 21 times. The market is pricing a leveraged builder whose $29.4B of net debt, not its contracted…