Wells Fargo Lowers NRG Valuation Range To $26-28 From $28-30

Wells Fargo is reducing its valuation range on shares of NRG Energy, Inc. NRG to $26-28 from $28-30. “The midpoint of our range is consistent with the average of the base cases of our NAV and EV/EBITDA analysis,” Wells Fargo writes. “Although we tend to believe NRG's long-term value is better reflected in our NAV analysis (which applies $/kW values to NRG's generating capacity), we think our blended approach represents a more realistic valuation in the near term.” NRG Energy currently trades at $20.83.