Calpine Sets New 12-Month High After Analyst Upgrade (CPN)
Calpine (NYSE:CPN) shares reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $22.00 to $23.00, AR Network reports. Barclays currently has an overweight rating on the stock. Calpine traded as high as $22.47 and last traded at $22.20, with a volume of 3,875,722 shares. The stock had previously closed at $21.37.
CPN has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of Calpine from $23.00 to $23.50 in a research note on Monday. Separately, analysts at Jefferies Group raised their price target on shares of Calpine from $20.50 to $22.00 in a research note on Wednesday, April 16th. Finally, analysts at Zacks downgraded shares of Calpine from an “outperform” rating to a “neutral” rating in a research note on Friday, March 14th. They now have a $22.20 price target on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.30.
The stock’s 50-day moving average is $20.35 and its 200-day moving average is $19.66. The company has a market cap of $9.360 billion and a P/E ratio of 712.33.
Calpine (NYSE:CPN) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.21. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted $0.22 earnings per share. Calpine’s revenue was up 5.2% compared to the same quarter last year. Analysts expect that Calpine will post $0.71 EPS for the current fiscal year.
Calpine Corporation (NYSE:CPN) is an independent wholesale power producer in the United States.
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