Boston, MA 05\/13\/2014 (wallstreetpr) \u2013 \u00a0Dynegy Inc. (NYSE:DYN)<\/b> Continues to trade in green on Monday as it was up nearly 2%. The company has recently received an upgraded rating from the analyst at the Barclays.<\/p>\n
Barclay Upgrades<\/b><\/p>\n
Barclays has raised the price target of Dynegy Inc. (NYSE:DYN) to $33 and assigned an ‘equal weight’ rating to it. The research firm\u2019s revision comes in the light of higher power prices that will stand to benefit the company in the forthcoming period.<\/p>\n
Losses Narrowed In Q1<\/b><\/p>\n
During the last week, the company had reported first quarter earnings, wherein it posted a narrower net loss on account of stronger margins from its gas-based plants and higher prevalent prices in the coal sector. Moreover, the benefit from the company’s acquisition of a new Power segment from Ameren Corporation in December were also baked in the recent quarter. All these factors resulted in a net loss of $41 million in the first quarter, immensely improved from that of the loss of $142 million in the previous year’s quarter. At the same time, the adjusted EBITDA climbed $152 million in the reported quarter, in comparison to $43 million in the previous year. Revenue during the same time rose $762 million from $318 million year-over-year that came in higher than the analysts’ forecast of $570 million.<\/p>\n
Dynegy Inc. (NYSE:DYN)’s coal segment returned adjusted EBITDA to the tune of $42 million, in comparison to $4 million in the previous year’s period. At the same time, the gas segment recorded an adjusted EBITDA of $104 million, in comparison to $61 million in the same quarter previous year.<\/p>\n
It is to be noted that Dynegy Inc. (NYSE:DYN) rose from the shackles of bankruptcy process during the end of 2012 and derives a major portion of its top line from its power-generation capabilities, which is predominantly dependent on coal and gas segments.<\/p>\n","protected":false},"excerpt":{"rendered":"
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