Jefferies upgraded power producer Vistra Corp. to buy on Monday, arguing that the share price doesn’t accurately reflect the likelihood of future data center deals. The investment bank also increased its 12-month price target for the Irving, Texas-based company, to $203 per share from $191 previously, suggesting about 30% upside from Monday’s close. Vistra shares briefly rose as much as 5.5% in early trading Tuesday. Vistra is down about 25% since announcing a deal last September to supply an unnamed buyer with 1,200 megawatts of power from its Comanche Peak nuclear plant, about 40 miles from Ft. Worth, Texas. Data center developers have created strong demand for power from existing nuclear plants. The pullback in the stock, today valued at some $52 billion, provides an attractive entry point, according to Jefferies. “It is impossible to ‘call bottom’ but we argue shares have more ways to positively surprise,” Jefferies analyst Julien Dumoulin-Smith told clients in a note. “VST is not pricing in material upside from future data center deals at this level.” Vistra shares are down more than 6% so far in 2026. VST 1Y mountain Vistra shares over the past year.
