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Fly News Breaks for March 29, 2016
CPN
Mar 29, 2016 | 08:31 EDT
Citi analyst Praful Mehta says Calpine's risk/reward is "great" in most market scenarios. To invest in the company today, you need to believe the price of gas stays at $2.50/MMBtu or higher long-term and that even with renewables, Calpine's assets have a 25-30 year life, Mehta tells investors in a research note. He sees a "strong basis" to support both scenarios and reiterates a Buy rating on Calpine. He lowered his price target for the shares to $19 from $22.
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