Scotiabank initiates coverage on power producers
22/09/2025 11:49
** Brokerage Scotiabank initiates coverage on U.S. independent power producers on the back of robust outlook for electricity demand ** Brokerage says it has bullish fundamental views on the companies owing to downside protection, strong balance sheets and cash flow generation ** "Demand is coming not only from high-profile data centers and electrification, but also from manufacturers and other sources" - Scotiabank ** Adds that the independent power producer paradigm has shifted, allowing investors to focus on upside opportunities rather than downside risk Initiates coverage for the following companies:
| Company | Rating | Price Target | Upside/downside to stock's last close |
| Constellation Energy CEG.O | Sector Outperform | $401 | 21.1% |
| NRG Energy NRG.N | Sector Outperform | $212 | 28.9% |
| Talen Energy TLN.O | Sector Perform | $418 | (1.3%) |
| Vistra Corp VST.N | Sector Outperform | $256 | 21.1% |
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