NRG Energy’s stock surges toward a 1-year high after Guggenheim turns bullish a day before earnings are due

Shares of NRG Energy Inc. NRG, +3.41% charged up 3.9% toward a one-year high in afternoon trading Wednesday, after Guggenheim turned bullish on the independent power producer the day before earnings are scheduled for release. Analyst Shahriar Pourreza raised his rating to buy, after being at neutral since March 2021, while bumping up his stock price target to $50 from $36.

“These include our impressions of not only management, which are much improved following recent meetings , but also Smart Home itself, where disclosures and time with the company have improved our understanding of the business,” Pourreza wrote. The company is slated to report third-quarter results before Thursday’s open, with the FactSet consensus for earnings per share at $2.55. The stock has fallen the day that the past three quarterly reports were released, by an average of 4.4%.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cellectis’ stock is the biggest gainer and most active premarket after equity investment, collaboration pact with AstraZenecaTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Source: MarketWatch - 🏆 3. / 97 Read more »

Norwegian Cruise’s stock drops toward a 6-month low after downbeat earnings outlook, amid lower-than-expected close-in demandTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Source: MarketWatch - 🏆 3. / 97 Read more »