Vistra Corp

VST: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$75.00	Mvfz	Fdcdvfq

Texas Grid Operator's Summer Outlook Suggests Unfavorable Markets for NRG, Vistra

Travis Miller

May 8, 2023

We are reaffirming our fair value estimates for NRG Energy ($37 per share) and Vistra Energy ($24) after the Texas grid operator, ERCOT, released its summer seasonal outlook. We are reaffirming our no-moat and High Uncertainty Ratings for both companies.

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