Morgan Stanley Opens 30-Day Research Tactical Idea on Calpine

Morgan Stanley has opened a research tactical idea on Capline

believing the share price will rise over the next 30 days. In the report, Morgan Stanley writes, "We believe that the company should perform well under a low natural gas environment - the company's fleet of highly efficient natural gas-fired power plants will be increasingly competitive versus coal plants as the price of natural gas trends lower. Calpine stock has fallen as natural gas prices have fallen, and we believe there is a lack of appreciation for how well Calpine can perform in a low natural gas environment. The company will have its earnings call this Friday, and we believe they will provide further support for their strong performance in a low natural gas price environment." Morgan Stanley maintains its Overweight rating on Calpine, which closed yesterday at $14.80.