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Calpine (NYSE:CPN) has earned a “BB” credit rating from analysts at Morningstar. The agency’s “BB” rating indicates that the company is an above-average default risk. They also issued a neutral credit outlook for the company and gave their stock a four star rating.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Calpine from $23.00 to $23.50 in a research note on Monday, August 4th. They now have a “hold” rating on the stock. Separately, analysts at ISI Group raised their price target on shares of Calpine from $22.50 to $24.00 in a research note on Monday, August 4th. Finally, analysts at Goldman Sachs upgraded shares of Calpine from a “buy” rating to a “conviction-buy” rating in a research note on Monday, July 28th. They now have a $27.00 price target on the stock, up previously from $25.00. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $25.06.

Shares of Calpine (NYSE:CPN) opened at 23.76 on Thursday. Calpine has a 1-year low of $18.46 and a 1-year high of $24.24. The stock has a 50-day moving average of $22.39 and a 200-day moving average of $22.06. The company has a market cap of $9.564 billion and a P/E ratio of 31.21.

Calpine (NYSE:CPN) last announced its earnings results on Friday, August 1st. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.35. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted ($0.16) earnings per share. Calpine’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Calpine will post $0.76 earnings per share for the current fiscal year.

Calpine Corporation (NYSE:CPN) is an independent wholesale power producer in the United States.

To view more credit ratings from Morningstar, visit www.morningstar.com.

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