BMO Capital Maintains a Buy Rating on Calpine Corp

By Jason Carr

BMO Capital analyst Michael Worms maintained a Buy rating on Calpine Corp (NYSE: CPN) today and set a price target of $16. The company’s shares opened today at $14.57, close to its 52-week high of $14.76.

According to, Worms is a 5-star analyst with an average return of 13.4% and a 88.4% success rate. Worms covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Public Service Enterprise, and American Electric Power.

Currently, the analyst consensus on Calpine Corp is Moderate Buy and the average price target is $14.17, representing a -2.7% downside.

In a report issued on July 23, RBC Capital also reiterated a Buy rating on the stock with a $15 price target.

Based on Calpine Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.06 billion and GAAP net loss of $56 million. In comparison, last year the company earned revenue of $1.43 billion and had a GAAP net loss of $29 million.

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Calpine Corp. engages in the operation of natural gas-fired and geothermal power plants. It sells the power and related services to its wholesale customers who include commercial and industrial end-users, state and regional wholesale market operators, and retail affiliates.