Goldman Sachs Reiterates Buy on Calpine (CPN)

Goldman Sachs is out with its report today on Calpine (NYSE: CPN), reiterating Buy.

In a note to clients, Goldman Sachs writes, "We reiterate our Buy rating on CPN, which we see as the best-positioned Independent Power Producer for the current commodity and power market environment. We continue to believe CPN can grow EBITDA by an average of 10% in 2012/2013, driven by increased volumes and recovering power markets, despite our relatively bearish view on natural gas and power prices."

Goldman Sachs maintains a $19 PT on CPN.

Shares of CPN closed Friday at $16.75, up 2.45% from Thursday's close.