Is Blackstone's Offer For NRG Too Low? (BX, NRG)

Pritchard Capital Partners has updated its research on Dynegy, Inc. DYN and forecasts potential big changes in the near future. Pritchard writes "We believe there remains a small probability The Blackstone Group L.P. BX($10.77) may increase its offer and recommend shareholders maintain their positions. Our price target is reduced to $4.50 from $5.50, due to the end of the "Go Shop" period." According to Pritchard, NRG's CEO is remaining cautious, as "[On] the afternoon of September 23, 2010, following a panel discussion on electric vehicles at the Washington Post in downtown Washington, D.C., we had the opportunity to briefly discuss the DYN transaction with David Crane, CEO of NRG Energy ($20.60-N-$24). He expressed caution because the shareholder vote is needed and some shareholders were unhappy with the BX offer." Pritchard currently has a Neutral rating and new price target of $4.50 for Dynegy Inc., which closed yesterday at $4.52. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.
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Posted In: Analyst ColorNewsPrice TargetManagementM&AAnalyst RatingsBlackstone Group LPdynegyPritchard Capital Partners
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