Guggenheim analyst Shahriar Pourreza reiterated a Buy rating on NRG Energy (NYSE: NRG) today and set a price target of $38. The company’s shares opened today at $31.06.
According to TipRanks.com, Pourreza is a 5-star analyst with an average return of 11.7% and a 74.4% success rate. Pourreza covers the Utilities sector, focusing on stocks such as Public Service Enterprise, Newjersey Resources Corp, and Nextera Energy Partners.
NRG Energy has an analyst consensus of Moderate Buy, with a price target consensus of $35.50, a 14.3% upside from current levels. In a report issued on July 25, Merrill Lynch also maintained a Buy rating on the stock with a $37 price target.
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Based on NRG Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.5 billion and net profit of $279 million. In comparison, last year the company earned revenue of $2.63 billion and had a GAAP net loss of $626 million.
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NRG Energy, Inc. engages in the production, sale, and distribution of energy and energy services. Its wholesale operations include plant operations, commercial operations, EPC, energy services and other critical related functions. It operates through the following segments: Generation, Retail, Renewables and Corporate.
