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Fly News Breaks for November 22, 2016
CPN
Nov 22, 2016 | 08:53 EDT
As previously reported, BofA/Merrill downgraded Calpine to Neutral from Buy and lowered its price target to $12 from $14. Analyst Brian Chin sees greater risk to utility valuations based on an increased inflationary view. BofA/Merrill now expects the 10 year Treasury yield to be 2.65% by year end 2017, resulting in 8% downside risk to utility valuations, and as much as 17% downside risk if the yield rises to 3%, the analyst wrote.
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