Morgan Stanley (NYSE: MS) assumed coverage on shares of Calpine (NYSE: CPN) in a research note issued on Wednesday. They set an “overweight” rating on the stock.
Separately, analysts at UBS AG (NYSE: UBS) reiterated a “buy” rating on shares of Calpine in a research note to investors on Thursday, December 8th. Analysts at Jefferies Group (NYSE: JEF) downgraded shares of Calpine from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, November 30th. They now have a $15.50 price target on the stock. Also, analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Calpine to $16.00 in a research note to investors on Monday, October 31st.
Calpine Corporation (Calpine) is a wholesale power company in the United States. Calpine owns and operates natural gas-fired and geothermal power plants in North America and has a presence in power markets in the United States, including California and Texas, and in the Pennsylvania-New Jersey-Maryland Interconnection (PJM), Independent System Operator (ISO) New England (NE) and New York ISO (NYISO) markets. Its portfolio consists of two types of power generation technologies: natural gas-fired combustion turbines, which are combined-cycle plants, and renewable geothermal conventional steam turbines. Calpine is the owner and operator of industrial gas turbines, as well as cogeneration power plants. The Company sells wholesale power, steam, capacity, renewable energy credits and ancillary services to its customers, including utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities and power marketers.
Calpine traded down 1.68% on Wednesday, hitting $15.78. Calpine has a 52-week low of $12.70 and a 52-week high of $17.10. The stock has a 50-day moving average of $15.58 and a 200-day moving average of $15.00. The company’s market cap is $7.698 billion.