Deutsche Bank Initiates Buy Rating on Calpine (CPN)

Deutsche Bank initiated a Buy rating on Calpine Corporation today, saying "the long-term Calpine story is extremely compelling, as the company’s modern fleet of environmentally friendly gas plants and geothermal assets seem ideally positioned for a cleaner energy future." Calpine Corporation

is a wholesale power company in the United States. Deutsche Bank initiates with a $16 price target. "CPN is structurally well positioned to generate substantial and consistent free cash flow that we expect to be used to delever the balance sheet and redeployed into organic or strategic growth opportunities." Shares gained 1% in trade today, closing at $13.25.