Vistra: Locked Into A Virtuous Cycle

Vistra remains a BUY, positioned as a long-term compounder with over 30% EPS growth projected through 2028. VST's growth is driven by rising AI/data center power demand, disciplined asset acquisitions, and a commercial strategy focused on margin visibility via hedging. Recent acquisitions, including Cogentrix, will expand capacity by 20% through 2027 and boost dispatch rates and GWh sold by 24%.