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Calpine Corporation (CPN) is the largest wholesale power generation company.
The firm owns and operates natural gas-fired and geothermal power plants in North America.
It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines. The company sells power, steam, capacity, renewable energy credits, and ancillary services to utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities and other governmental entities, and power marketers, as well as retail commercial, industrial, and residential customers.
As of February 1, 2017, it owned and operated 80 power plants, including 1 under construction with an aggregate generation capacity of 25,908 megawatts and 828 megawatts under construction.
Shares have formd a bullish "flag" on the market chatter that the company is for sale. Sixteen dollars per share is considered to be a buyout price.
52-Weeks Trading Range: $9.30 - $16.07
Entry Point: $13.20
Stop Loss: $12.50
Target Price: $14.55
CPN closed at $13.40. The company should be sold around $16 per share.
