Goldman Sachs Lists Calpine as Top Pick in IPP Sector

Goldman Sachs published its report on Calpine CPN listing CPN as its top pick in the Independent Power Prodcuers' (IPP) sector. In a note to clients, Goldman Sachs writes, "Our top pick is Calpine, which we initiate at Buy as we feel it is best positioned to weather the trough in natural gas and power prices due to its efficient and clean natural gas-fired assets. We see 25% upside to our $16 12-month target price." CPN closed yesterday at $12.89.