Vistra (VST) Becomes A Preferred Power Provider For AI

Vistra Corp. (NYSE:VST) is one of the 10 Best AI Stocks to Watch in July. Shahriar Pourreza of Wells Fargo reaffirmed a Buy rating on Vistra Corp. (NYSE:VST) on July 2. However, the analyst raised the firm’s price target on the stock from $152 to $259. The revised price target reflects an additional 66% upside from current levels. This upside is higher than the median Wall Street analysts’ upside of 47%.

Vistra Corp was selected as the preferred power provider for Helix Digital Infrastructure investments earlier this month. The initiative is led by KKR, along with partners such as Nvidia and the Kuwait Investment Authority, and begins with capital commitments exceeding $10 billion. On the occasion, CEO of Vistra Corp, Jim Burke, mentioned the importance of the company’s existing power capabilities and grid experience, highlighting the 5 GW of power purchase agreements with hyperscalers:

“Vistra has a proven track record in executing more than 5,000 megawatts of power purchase agreements with hyperscalers and looks forward to leveraging our leading and diverse generation fleet and operational expertise as Helix’s preferred power partner to help deliver the reliable, affordable energy these customers require.”

Since this development, various analysts have issued updates, including Goldman Sachs, which has a price target of $209 on the stock, and Seaport Global, which raised its target price from $227 to $230.

Vistra Corp. (NYSE:VST) is one of the largest competitive power generators in the United States. The company operates a power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities in the country.

READ NEXT: 12 Best Dow Stocks to Invest In Right Now and 10 Best Major Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.