Morgan Stanley Sees Calpine Corporation as Hitting on All Cylinders

In a report published Friday, Morgan Stanley analyst Stephen C. Byrd reiterated an Overweight rating and $30.00 price target on

. In the report, Morgan Stanley noted, “Calpine showed the strength of their gas-fired fleet and strategy on its 4Q2013 earnings call, with 27% growth in adjusted free cash flow per share, $100m increase in 2014 EBITDA guidance, significant share buyback activity, and strong performance during periods of commodity volatility.” Calpine Corporation closed on Friday at $20.45.