Wunderlich Securities Maintains Buy Rating, $24 PT On NRG
Wunderlich Securities is maintaining its Buy rating and $24 PT on shares of
NRG Energy NRG, which announced late yesterday a “further slowing of its nuclear development efforts, resulting primarily from the nuclear events in Japan.”
“NRG's partner in the Texas nuclear project is Toshiba Corp. – Tokyo Electric Power Company has an option to invest,” Wunderlich Securities writes. “NRG is only spending $1.5 million per month currently. Power purchase negotiations with potential buyers of the output from the new plant have been suspended. Investors have had a negative view of NRG's nuclear development efforts in the current low natural gas price environment, so additional delays should continue to be positive for the stock. We continue to have a Buy rating on NRG shares.”
NRG Energy closed Monday at $20.86.
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