Shares of utility Vistra Corp (VST.N) up 4% to $159.2 premarket
Jefferies upgrades rating to “buy” from “hold”; raises PT to $203 from $191
New PT is a ~33% upside to stock’s last close
Brokerage argues the stock is underpricing upside from future data center deals
The brokerage expects 2026 to be a turning point in resolving PJM’s structural imbalance, but it still sees significant uncertainty around PJM backstop procurement
“We believe there will be significantly fewer data center contracts on existing assets today but the ‘base’ valuation represents a buying opportunity”- brokerage
19 of 20 brokerages rate stock “buy” or higher, and 1 “hold” - data compiled by LSEG
In 2025, VST gained 17%

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Shares of Vistra Corprose 4% to $159.2 in premarket trading after Jefferies upgraded its rating from 'hold' to 'buy' and increased the price target to $203 from $191, indicating a potential upside of approximately 33%. The brokerage believes the stock is undervalued due to future data center deals and anticipates 2026 will be pivotal for resolving PJM’s structural issues, despite uncertainties. Currently, 19 out of 20 brokerages rate the stock as 'buy' or higher.

Reuters

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BUZZ-Vistra Corp gains as Jefferies upgrades to 'buy'