Calpine Corp. Price Target Cut to $22.00 by Analysts at Deutsche Bank (CPN)
Equities researchers at Deutsche Bank cut their price target on shares of Calpine Corp. (NYSE:CPN) from $23.00 to $22.00 in a research report issued on Wednesday, StockRatingsNetwork.com reports. Deutsche Bank’s price target indicates a potential upside of 11.96% from the company’s current price.
Shares of Calpine Corp. (NYSE:CPN) traded up 0.31% on Wednesday, hitting $19.65. The stock had a trading volume of 1,744,155 shares. Calpine Corp. has a 1-year low of $16.47 and a 1-year high of $22.16. The stock has a 50-day moving average of $19.31 and a 200-day moving average of $20.39. The company has a market cap of $8.627 billion and a price-to-earnings ratio of 26.37.
Calpine Corp. (NYSE:CPN) last announced its earnings results on Thursday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.18. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Analysts expect that Calpine Corp. will post $0.59 EPS for the current fiscal year.
A number of other firms have also recently commented on CPN. Analysts at Gabelli initiated coverage on shares of Calpine Corp. (NYSE:CPN) in a research note to investors on Friday, September 27th. They set a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Calpine Corp. (NYSE:CPN) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, September 26th. They now have a $18.80 price target on the stock. Finally, analysts at Tudor Pickering upgraded shares of Calpine Corp. (NYSE:CPN) from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Calpine Corp. currently has an average rating of “Hold” and a consensus target price of $22.18.
Calpine Corporation (NYSE:CPN) is an independent wholesale power producer in the United States.
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