Talen Energy (NASDAQ:TLN) Stock Bumped Up to "Strong-Buy" by Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce upgraded Talen Energy to “strong buy.” Analysts’ consensus remains “Moderate Buy,” with an average price target of $463.08.
• Talen shares rose 0.3% to $354.81, below their one-year high of $449.84. The stock has significant leverage, with a debt-to-equity ratio of 5.82.
• The company’s latest quarterly results missed expectations, reporting a $2.00 loss per share versus the projected $3.21 profit, although revenue of $959 million exceeded estimates.

Talen Energy (NASDAQ:TLN - Get Free Report) was upgraded by investment analysts at Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research report issued on Thursday, Zacks reports.

A number of other research analysts have also issued reports on the stock. BNP Paribas Exane restated an "outperform" rating and set a $560.00 price target on shares of Talen Energy in a research note on Wednesday, August 19th. Susquehanna set a $449.00 price objective on Talen Energy in a research note on Friday, August 7th. Mizuho assumed coverage on shares of Talen Energy in a research report on Monday, August 24th. They issued an "outperform" rating and a $405.00 target price for the company. Zacks Research lowered shares of Talen Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Finally, Barclays lowered their price objective on Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $463.08.

Talen Energy Trading Up 0.3%

TLN stock traded up $1.21 during mid-day trading on Thursday, reaching $354.81. 737,500 shares of the stock traded hands, compared to its average volume of 1,181,225. Talen Energy has a one year low of $279.77 and a one year high of $449.84. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The business has a 50-day moving average price of $324.05 and a two-hundred day moving average price of $350.03. The stock has a market capitalization of $17.00 billion, a PE ratio of -85.09 and a beta of 1.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The company had revenue of $959.00 million for the quarter, compared to analysts' expectations of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Equities research analysts expect that Talen Energy will post 21.99 EPS for the current year.

Institutional Investors Weigh In On Talen Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new stake in Talen Energy in the 2nd quarter valued at about $4,132,000. Tidal Investments LLC boosted its holdings in shares of Talen Energy by 84.7% during the second quarter. Tidal Investments LLC now owns 46,686 shares of the utilities provider's stock worth $17,940,000 after purchasing an additional 21,406 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Talen Energy in the 2nd quarter worth about $5,118,000. Ninepoint Partners LP purchased a new stake in Talen Energy in the second quarter valued at approximately $1,694,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Talen Energy during the 2nd quarter worth $2,386,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

About Talen Energy

Talen Energy Corporation NASDAQ: TLN is an independent power producer that owns and operates a portfolio of electricity-generation facilities in the United States. The company supplies power and related services to wholesale electricity markets, utilities, commercial customers and other counterparties.

Talen's generation portfolio includes the Susquehanna nuclear power plant in Pennsylvania, one of the largest nuclear facilities in the country, as well as natural gas-fired and other generating assets.

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