Goldman Sachs has started covering Talen Energy with a Buy rating and a $499 price target, pointing to de-risked cash flows, constrained power supply dynamics, and the potential for new power purchase agreements. The call puts Goldman in lockstep with Morgan Stanley, which set an identical $499 target on May 21.
Talen Energy currently trades near $406, which means both banks see roughly 23% upside from here. The analyst consensus is even more lopsided: 14 Buy ratings against a single Hold, with an average 12-month price target hovering around $472, implying over 15% upside potential.
Talen Energy operates the Susquehanna nuclear facility in Pennsylvania, one of the largest nuclear power plants in the country. In March 2024, Talen secured a major power purchase agreement with Amazon Web Services for a carbon-free data center. That deal was expanded in June 2025, deepening the relationship between the nuclear operator and one of the world’s largest cloud computing providers.
In October 2024, Talen acquired full ownership of the 200 MW Nautilus Cryptomine facility by purchasing TeraWulf’s 25% stake for $85 million. Nautilus is a Bitcoin mining operation powered by Susquehanna’s nuclear output. When power prices spike, Talen can sell electricity to the grid. When mining economics are favorable, they can direct megawatts toward Bitcoin production.
