AI算力引爆美国电力需求，谁最受益？瑞穗点名Vistra和Talen_老虎社区_美港股上老虎

AI算力引爆美国电力需求，谁最受益？瑞穗点名Vistra和Talen

智通财经08-25

8月25日，瑞穗首次覆盖Vistra Energy(VST.US)和Talen Energy(TLN.US)，均予“跑赢大盘”评级，目标价分别为169美元和405美元。瑞穗分析师 Anthony Crowdell 表示，他认为Vistra是规模最大、战略定位最明确的商业电力平台之一，能够抓住由人工智能(AI)和数据中心建设推动的美国电力需求结构性跃升所带来的变现机会。Crowdell指出，...

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Mizuho names Vistra (VST.US) and Talen (TLN.US)","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/060a62664cff6d1b9d3ef6c74f91350d","symbols_score_info":{"VSTL":0.6,"NUKX":0.6,"UPW":1.5,"UTSL":1.5,"WISE":1.5,"UTES":0.6,"RSPU":0.6,"TPZ":1.5,"AIO":1.5,"VST":1.5,"RCTR":0.6,"TLN":1.5,"WDAI":1.5},"content_text":"8月25日，瑞穗首次覆盖Vistra Energy(VST.US)和Talen Energy(TLN.US)，均予“跑赢大盘”评级，目标价分别为169美元和405美元。瑞穗分析师 Anthony Crowdell 表示，他认为Vistra是规模最大、战略定位最明确的商业电力平台之一，能够抓住由人工智能(AI)和数据中心建设推动的美国电力需求结构性跃升所带来的变现机会。Crowdell指出，Vistra持续扩大其发电资产组合，近期通过收购Cogentrix 新增了5.5 吉瓦(GW)发电设施，覆盖ERCOT、PJM和ISO-New England区域。他预测，Vistra的自由现金流收益率将从2025年的约8%提升至2028年的约13%，反映出公司凭借精准的市场定位，充分受益于远期电力价格曲线后段的上行趋势，从而加速释放现金回报潜力。分析师表示，考虑到调整后自由现金流五年复合年增长率有望达10%，Vistra当前的估值是一个极具吸引力的入场点。Crowdell表示，他对Talen Energy的积极展望源于该公司在持续收紧的PJM电力市场中所具有的差异化布局。他指出，Talen 98%的发电资产位于PJM 市场，使其能够受益于供需缺口扩大的趋势，这一趋势推动了最新一次容量拍卖价格从2024‑25年的29 美元/兆瓦日升至当前约330美元/兆瓦日的上限水平。Crowdell预测，Talen的调整后自由现金流收益率将在2028年达到14%。分析师还提到，Talen旗下的Susquehanna核电站提供了稀缺的发电资源，并通过与亚马逊签订的购电协议锁定了合约现金流;此外，于今年6月完成的Cornerstone收购，为Talen在PJM市场新增了三座天然气发电厂，合计增加装机容量2.6吉瓦。截至周一美股收盘，Vistra跌0.4%，收于135.66美元，今年迄今下跌近16%;Talen跌2.84%，收于305.535美元，今年迄今下跌逾18%。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}