NRG Energy Inc. (NRG)

[Timothy Smith]

NRG Energy (NYSE:NRG) sank to a 52-week low in today’s trade, but Credit Suisse sees a buying opportunity, rating shares at Outperform with a $30 price target an implying an 83% rise from today's close.

The firm says it has been surprised by the sharply negative investor reaction to NRG's "well-reasoned plan" to cut costs and reduce debt, and that the move felt like capitulation on competitive power broadly and the better known NRG specifically from a market looking to duck commodity exposure in a risk-off backdrop.