BUZZ-Vistra shares rally, BMO increases price target
Vistra Corp's shares surged 13.5%, marking its largest one-day gain since July 31, following BMO's price target increase. The stock is on track for its 10th consecutive day of gains, trading at $36.72, significantly above the median price target. BMO analyst James Thalacker highlighted Vistra's plan to acquire the remaining 15% of its subsidiary, Vistra Vision, for $1.25 billion, citing strong valuation and management strategy. Year-to-date, Vistra shares have risen approximately 171%, outpacing the S&P 500 utilities index, which is up 24.71% this year.
Shares in power company Vistra Corp (VST.N) up 13.5% on track for its biggest one-day percentage gain since July 31, after BMO raised price target to $125 from $120
VST shares were second biggest gainer on Friday in the S&P 500 utilities index (.SPLRCU) , which hit a record high on Friday and is up 1.97% on the day, the biggest percentage gainer among the 11 major industry sectors
Vistra, on track for 10th straight day of gains, last traded at $103.72 vs median PT of $115, according to LSEG.
BMO analyst James Thalacker pointed to Vistra’s announcement Weds it would buy the 15% equity it does not already own in subsidiary Vistra Vision for nearly $3.25 bln
The analyst cited attractive implied valuation, management’s disciplined asset allocation strategy
YTD shares in Vistra up ~171%, which would be its biggest ever annual gain, vs SPLRCU up 24.71% so far this year
