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VVNT - Buy It: NRG Energy Plunges On Vivint Deal Yield Soars To 4.35%
Vivint Smart Home Inc.
Summary
At current pixel time, the stock of NRG Energy is off 15% after announcing a deal to acquire Vivint Smart Home for $2.8 billion in an all-cash transaction.
This is an overreaction in my opinion, giving investors an excellent entry point into NRG stock, which - after the drop - is now yielding 4.35%.
Meantime, the 6.3x EBITDA multiple NRG is paying for Vivint's growth platform does not justify such a shellacking on the stock.