Deutsche Bank Raises Estimates on NRG Energy (NRG)

Deutsche Bank has raised its EBITDA estimates on NRG Energy (NYSE: NRG) following NRG's recent acquisitions.

In a note to clients, Deutsche Bank writes, "We have raised our 2011-14 EBITDA estimates to incorporate NRG's acquisition of Green Mountain (closed 11/5), the Cottonwood CCGT (11/15), and the El Segundo CCGT repowering (COD 2013) which received its final air permit and PPA approval. We lowered our ‘10 est by $5M as the ongoing outage at STP unit 2 more than offsets the contributions from new assets. We believe NRG will update its 2011 EBITDA guidance in the near future, and we expect the outlook to be cut by about $140M, implying a new range of $1.76B - $1.96B."

Deutsche Bank maintains its hold rating and $19 price target on NRG.

NRG is trading at $19.44.