New York, Jan 15, 2026, 20:50 EST — Market closed
- Vistra shares jumped roughly 6.6% Thursday, ending the day at $180.18
- Buying remained strong after Meta inked long-term nuclear power agreements with the company
- Attention shifts to a $2.25 billion debt deal slated to close on Jan. 22
Shares of Vistra Corp climbed roughly 6.6%, finishing Thursday at $180.18, outperforming gains across the utility sector.
Vistra remains at the center of a trade drawing attention to power producers as Big Tech seeks long-term electricity deals for AI-driven data centers. Last week, Meta Platforms announced 20-year power purchase agreements with three of Vistra’s nuclear plants. The company also partnered with Oklo and TerraPower on smaller reactor projects. Joel Kaplan, Meta’s chief global affairs officer, said these moves would “make Meta one of the most significant corporate purchasers of nuclear energy in American history.” (Reuters)
A recent filing revealed that Meta’s power purchase agreements cover 2,609 megawatts of carbon-free electricity and capacity from Vistra’s PJM nuclear plants. This includes Perry and Davis-Besse in Ohio, along with planned “uprates,” or output-boosting equipment upgrades, at those sites and Beaver Valley in Pennsylvania. Vistra anticipates initial deliveries by late 2026, reaching full operating volumes by the end of 2027. Uprate-related deliveries are set to begin in 2031 and hit full capacity by the end of 2034. (SEC)
Wall Street remains focused on the same story with mixed moves. UBS nudged up its price target on Vistra to $233 from $230, and Scotiabank pushed theirs higher to $293. On the flip side, Jefferies downgraded its target to $191, pointing to uncertainty in the PJM power market, according to Investing.
Vistra is expanding its gas portfolio. Earlier this month, it agreed to acquire Cogentrix Energy from Quantum Capital Group for around $4.7 billion. The deal brings 10 natural gas-fired plants and 5,500 megawatts of net capacity spanning PJM, ISO New England, and ERCOT, the Texas grid. “The addition of this natural gas portfolio is a great way to start another year of growth for Vistra,” said CEO Jim Burke. (Reuters)
Vistra slipped 1.4% on Wednesday, closing at $168.97, according to MarketWatch data. (MarketWatch) Thursday’s rebound came after that softer finish.
Utilities topped the S&P 500 sectors on Thursday, climbing roughly 1%, according to a Reuters market wrap. Energy, however, fell behind as oil prices dropped. (Reuters)
The nuclear story remains loud. Reuters highlighted this week how the uranium market is tightening, with U.S. spot prices expected to close 2025 near $82 a pound, according to figures from Canadian miner Cameco. (Reuters)
But this trade carries risks. The Meta contracts hinge on plant performance plus a lengthy timetable of spending and uprate milestones; any delays, cost overruns, or softer power prices could squeeze the cash flow boost that bulls are counting on. The Cogentrix deal hasn’t closed yet either, and big acquisitions have a way of turning complicated quickly.
Vistra plans to close its $2.25 billion private offering of senior secured notes on Jan. 22. The bonds, secured by collateral, will help fund the Cogentrix acquisition. (Vistracorp)
