SURVYR
NEW 13F POSITION · SCHONFELD Institutional Filing Alert

Schonfeld Strategic Advisors (Ryan Tolkin · Fundamental & Quant Pods) opened a new position in TLN (18.5% of 13F portfolio)

Form 13F-HR institutional holdings disclosure · Filed 2026-10-16

Schonfeld Holdings › All Filing Alerts › SEC Filing ↗

TLN

Talen Energy Corporation
$345.73
+$7.95 (2.35%)Oct 27 close
UtilitiesS&P 400 CompareTechnicals
Model valuationLeans expensiveDCF base $309
1M3M6M1Y2Y
-31%-20%-8%+3%+15%Oct 2025Oct 2026Apr 202652w high $449.8452w low $279.77
TLNSPY
Wall St. Highest PT $560.00 (+62.0%) Wall St. Avg PT $453.51 (+31.2%)
$282$366$450$533$617POC $377Hi $560Avg $454
Underwater Drawdown %Max DD -35.6%Current -21.1%
0.0%-35.6%
Relative Strength vs SPY-28.6% vs SPYUnderperforming
+48%0%-48%
1W
−$3.70 (1.06%)
1M
+$41.31 (13.57%)
3M
+$19.68 (6.04%)
6M
−$15.44 (4.27%)
YTD
−$29.11 (7.77%)
1Y
−$61.39 (15.08%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar
Wall Street analyst consensus
SellHoldStrong Buy
Strong Buy
20 analysts · mean score 1.50
1 = Strong Buy · 5 = Sell
Strong Buy1260%
Buy630%
Hold210%
Underperform00%
Sell00%
Wall Street consensus · as of Oct 21, 2026
Analyst price targets
Current price$345.73
Average target$457.31
+$111.58 (+32.3%) upsideaverage target vs current price
CurrentAverageMedian
Low$307.00
Median$459.65
High$560.00
12-month Wall Street target range · as of Oct 21, 2026
Recent analyst rating changes · 30
Reiterated
2026-10-27 · Barclays reiterated Overweight on TLN
Initiated
2026-10-22 · TD Cowen started covering TLN at Buy
Initiated
2026-10-22 · HSBC started covering TLN at Buy
Reiterated
2026-10-21 · Morgan Stanley reiterated Overweight on TLN
Initiated
2026-10-16 · CIBC started covering TLN at Outperformer
Reiterated
2026-09-18 · Morgan Stanley reiterated Overweight on TLN
All analyst rating changes ›

Third-party ratings, not SURVYR.'s views.

Health check

Financial health
DistressGrey zoneSafe
Distress zone
Altman Z-score 0.9
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Weak
Piotroski F-score 3 of 9
See the tests
  • ✗Positive net income
  • ✓Positive operating cash flow
  • ✗Return on assets improved
  • ✓Cash flow above net income
  • ✗Long-term debt / assets fell
  • ✗Current ratio improved
  • ✓No share dilution
  • ✗Gross margin improved
  • ✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jun 30, 2026). Descriptive, not a forecast.

Key stats & company

Market value$16.4B
P/E (next 12 months, estimated)11.2
52-week range$279.77 – $449.84
Revenue growth (latest quarter vs a year ago)+111.2%
Dividend yieldNo dividend
Analyst consensusStrong Buy (20)
Average analyst price target$453.51 (+31%)

What they do

Talen Energy Corporation, an independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States. The company's plants generate power using a variety of fuels, such as nuclear, fossil, oil, natural gas, and coal power plants. It owns and operates approximately 13.1 GW of power infrastructure.

Utilities · Utilities - Independent Power Producers
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -1 (DCF counts double).
•DCF (base case)below the price by 11%
▲Forward P/E vs sector11.2x vs median 17.5x
▼Piotroski F-score3/9
▼Altman Z0.9 (distress)
▼Net debt / EBITDA22.3x
▲Analyst target+31% (20 analysts)

Discounted cash flow

Bear
$44
-87%
growth 18% · disc. 13.3% · term. 2.0%
Base
$309
-11%
growth 30% · disc. 12.3% · term. 2.5%
Bull
$675
+95%
growth 38% · disc. 11.3% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 24% a year for 10 years.
Implied
+24%/yr
FCF, last 3 yrs
n/a
FCF, last 5 yrs
n/a
Revenue, last 3 yrs
n/a
Revenue, last 5 yrs
n/a
Same inputs as the DCF above: trailing free cash flow 0.6B, 12.3% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.62 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Utilities

P/E (trailing)
sector median 20.9×
 –
Forward P/E
sector median 17.5× · 12th pct
 11.2×
cheaper
EV / EBITDA
sector median 12.9× · 100th pct
 61.5×
pricier
Price / sales
sector median 3.0× · 86th pct
 4.8×
pricier
Price / book
sector median 2.0× · 98th pct
 10.1×
pricier
FCF yield
sector median 0.1% · 58th pct
 3.5%
cheaper

Forward EPS $30.96 vs trailing $-4.13. Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$4.0B
as of 2026-06-30
vs a year ago
–
YoY
× TTM revenue
1.16×
coverage
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
–
Operating margin
2.6%
FCF margin
16.5%
Net margin
-5.4%
Return on equity
-11.4%
Return on invested capital
0.6%
Net debt / EBITDA
22.3×
Current ratio
0.8×
Interest cover
0.4×
Cash conversion (OCF/NI)
–
Piotroski F-score 3/9 · last two fiscal years
✗ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 0.9 (distress zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$454
+31%
Analysts
20
Strong Buy
Range
$307–$560
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$2.6B$-219.0M$606.0M
2024$2.1B$998.0M$171.0M
2022$3.1B–$-45.0M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR –.

For information only · Important disclosures

Grades vs sector

Momentum
10th percentile in sector
D-
12-1 return: -21.8%
Percentile within its GICS sector across the S&P 1500.
Growth
100th percentile in sector
A+
Revenue growth (YoY): +111.2%
Percentile within its GICS sector across the S&P 1500.
Value
46th percentile in sector
C
Forward E/P: 8.7% · EBITDA/EV: 2.2%
Percentile within its GICS sector across the S&P 1500.
Profitability
2nd percentile in sector
F
Profit margin: -4.9% · Return on equity: -12.8%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Held by 2 of 7 live models: SURVYR. Physical AI Grid & Power, SURVYR. Long Book.

SURVYR. Physical AI Grid & Power
6.0% of the book · Nuclear & Baseload Power (30%) sleeve · ranked 4 of 160
 HeldSURVYR. Long Book
4.3% of the book · Core sleeve
 HeldQuality Growth
Outside this model's universe or screens
 Momentum Top 15
Outside this model's universe or screens
 Momentum Blend
Not in the current book
 New Highs Growth
Outside this model's universe or screens
 SURVYR. Barbell Momentum & T-Bill Shield
Outside this model's universe or screens
Why it's in the SURVYR. Physical AI Grid & Power #4 of 160

Qualified on 6.0% weight, AWS nuclear co-location pioneer + PJM capacity auction tailwind. Ranked 4th of 160 at the 2026-10-01 rebalance.

What would knock it out: Drops out if it falls outside the top 14 at the next rebalance (Oct 30).

Why it's in the SURVYR. Long Book

Picked for this research portfolio at the Oct 21, 2026 close (Core group, Energy & BTM power).

What would knock it out: Weights are fixed and there is no rebalance rule. Any change would be dated and shown here.

Earnings & events

TLN earningsNext report in 6 days
Next report · quarter Sep 2026
Tue Nov 3, 2026Before the open
EPS consensus$8.17 range $6.62–$10.41
Revenue consensus$1.3B 7 analysts
Last 4 quarters · EPS vs estimate
Aug 5, 2026$2.37est $3.39−30.0%Below estimates
May 5, 2026$4.38est $4.26+2.9%Above estimates
Feb 26, 2026$4.38est $4.33+1.2%Above estimates
Nov 5, 2025$3.29est $3.67−10.3%Below estimates

In line = within 1% of the estimate.

Source: Yahoo Finance · report time: Nasdaq earnings calendar · refreshed 2026-10-27 18:23:37 ET
24-1125-0225-0525-0825-1126-0226-0526-08-1.084.38
EstimateActual (beat)Actual (miss)

Quarterly revenue

QuarterRevenueYoY
2026-06-30$959.0M+111.2%
2026-03-31$1.2B–
2025-12-31$771.0M–
2025-09-30$770.0M–
2025-06-30$454.0M–

News & catalysts

More news
Talen Energy Corporation (TLN) Earnings Expected to Grow: Should You Buy?
Zacks · 19h ago
Is Talen Energy (TLN) Still Undervalued After A 7x Run?
Simply Wall St. · Oct 24
HSBC Initiates Coverage on Talen Energy With Buy Rating, $444.30 Price Target
MT Newswires · Oct 22
Bloom Energy Q3 Earnings on Deck: Should Investors Buy or Wait?
Zacks · Oct 19
Here’s What Weighed on Talen Energy Corporation (TLN)
Insider Monkey · Oct 15

Research

Coteau Long Book: rebalance of Oct 21, 2026Oct 22, 2026
Rating changes
Reiterated
2026-10-27 · Barclays reiterated Overweight on TLN
Initiated
2026-10-22 · TD Cowen started covering TLN at Buy
Initiated
2026-10-22 · HSBC started covering TLN at Buy
Reiterated
2026-10-21 · Morgan Stanley reiterated Overweight on TLN
Initiated
2026-10-16 · CIBC started covering TLN at Outperformer
Reiterated
2026-09-18 · Morgan Stanley reiterated Overweight on TLN

Third-party analyst actions, not SURVYR.'s views. All rating changes

Stats refreshed 2026-10-27 18:23:37 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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Coteau 0.9 · Oct 21, 2026