According to the Wall Street Journal, Citigroup has downgraded shares of NRG Energy (NRG) to “Hold” from “Buy” and cut price targets to $25 from $27 on the stocks. Shares of NRG today are off 34 cents, or 1.6%, at $20.83.
Citigroup analyst Brian Chin warns that NRG’s investment in the South Texas Plant (STP) nuclear power plant expansion continues to consume resources without a clear indication from the U.S. Department of Energy that they will receive a loan guarantee for the plant, impacting investor enthusiasm.
By promoting cleaner energy, cleaner government, and cleaner air for all Texans, we hope to provide for a healthy place to live and prosper. We are Public Citizen Texas.