Fly News Breaks for June 24, 2019
Jun 24, 2019 | 08:04 EDT
Goldman Sachs analyst Michael Lapides keeps a Buy rating on NRG Energy and added the stock to the firm's Americas Conviction List, stating that he believes the company's revised and simplified business model, centered more on its competitive Retail segment, should deliver significant free cash flow and better EBITDA to free cash flow conversion. Meanwhile, the company's "historically low" leverage could allow it to repurchase 30% of its market cap by 2021 and makes it screen well based on his LBO analysis, said Lapides, who has a $56 price target on NRG shares.
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