Vistra Is Under $150. Here's Why I Think It Won't Stay That Way.
Vistra's stock is down 32% from its 52-week high. Here's why I think the energy stock has upside potential from here.
Overview
Vistra's (NYSE: VST) stock has surged in recent years as energy demand has exploded, powered by artificial intelligence (AI) data centers. However, shares of the power generation company have cooled down this year amid concerns about pushback on behind-the-meter deals with hyperscalers, and it's now down 32% from its peak. Here's why I don't think Vistra shares will stay under $150 for long.
Vistra operates as an independent power producer, meaning it sells its energy capacity into the wholesale power markets or through long-term agreements.
Details
Earlier this year, Vistra signed a major 20-year Power Purchase Agreement (PPA) with Meta Platforms to supply 2,609 megawatts (MW) of carbon-free nuclear energy and to uprate capacity at its nuclear sites in the PJM region. It also locked in a similar agreement with Amazon Web Services.
Source
Originally published at www.fool.com.