Wunderlich Securities Maintains Buy Rating On CPN

Wunderlich Securities is maintaining its Buy rating on shares of Calpine Corporation CPN. “Calpine Corporation hosted an upbeat analyst meeting yesterday, emphasizing capital allocation, financial flexibility, and corporate and operational discipline, as we expected,” Wunderlich Securities writes. “The company announced the potential sale of two additional assets opportunistically (Mankato and Broad River), and continued an upbeat view of the potential for wholesale power market improvement, particularly in Texas and PJM. The company hinted that a new term contract for power could be signed in the southeast shortly.” Calpine Corporation closed Tuesday at $16.08.