BUZZ-Talen Energy rises after BofA initiate coverage with 'buy' rating

Reuters

Feb 03, 2025

** Shares of power provider Talen Energy TLN.O rise ~2% to $225.64

** Brokerage BofA Global Research initiates coverage on stock with a "buy" rating, PT of $253

** PT represents a 12.3% upside to TLN's closing price on Friday

** BofA says it is bullish on stock given its lucrative Amazon AMZN.O data center contract with the Susquehanna nuclear plant and the prospect of higher power prices

** Even with the prospect of AI app DeepSeek, the data center space is likely to grow, perhaps with more urgency benefiting independent power providers like TLN - BofA says

** All of the 12 brokerages that cover the stock rate it "buy" or higher; their median PT is $253 - LSEG

** In 2024, TLN stock rose ~215%

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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