RRI Energy

Citigroup has upgraded GenOn Energy (NYSE: GEN) (formerly RRI Energy, Inc.) from Hold to Buy and has raised the price target from $4.50 to $5.25.

Deutsche Bank is discontinuing coverage of Mirant Corp. (NYSE: MIR) stock given the closing of the merger between Mirant and RRI Energy, Inc. (NYSE: RRI) to form GenOn Energy (GEN). Mirant Corp. last traded on December 3 at $10.39; RRI Energy, Inc. traded at $3.62.

In a report released this morning, Citigroup said that it has upgraded RRI Energy to Buy “on our higher PJM capacity price forecast.” Citigroup projects forward capacity prices will move higher because of increasingly restrictive EPA policies for power plants. “This will tighten power supply in the...

Shares of RRI Energy (NYSE: RRI) are down more than 6% after the company reported a bigger than expected loss. RRI Energy reported on Thursday a 4th quarter loss of $233.9 million, or 66 cents per share, compared to a loss of $437.7 million, or $1.25 per share, for the same quarter a year earlier...