| VAGUE | 3.530 | Gavin Graham | Pretty rocky road over the last year or so. Paying down their debt and sold off a buch of assets. Might be a survivor. | 2005-02-07 | |
| VAGUE | 3.530 | Brian Acker, CA | Model price is $1.75. | 2005-02-07 | |
| DON'T BUY | 3.530 | Larry Berman CFA, CMT, CTA | Chart looks like it's starting to improve, but it still has a ways to go technically before it gets exciting. | 2005-02-07 | |
| DON'T BUY | 3.390 | John Stephenson | Not a fan. Have done a lot of things right over the last year giving them about $2.5 billion of liquidity at year's end. Concerned with how they will finance their gas plants they are building. Margins will come under pressure. | 2004-11-24 | |
| TOP PICK | 3.490 | David Williams | | 2004-08-27 | |
| SHORT | 3.900 | John Stephenson | Just announced a $.17 loss for the quarter and gave guidance to break even for the year. Doesn't have a lot of optimism with this company. | 2004-05-06 | |
| BUY | 4.870 | John Sinkins, CFA | Has restructured its balance sheets significantly. As deregulated power in the US begins to recover, there should be some upside in the next 2/3 years. Risky. | 2003-12-29 | |
| SELL | 5.040 | John Stephenson | Doesn't see it rebounding anytime soon. It’s a merchant power plant constructor and operator. There is now too much supply in the US coming on stream all at the wrong time. Spreads have been collapsing. Large debt. | 2003-10-16 | |
| DON'T BUY | 4.860 | John Stephenson | Very speculative investment. Could have a little bit of upside, but expect liquidity issues in the fourth quarter of 2004 when they have a $2 1/2-billion convertible bond due. | 2003-10-02 | |
| BUY | 7.100 | David Burrows | Refinancing of debt has benefited them. Some risks. | 2003-07-15 | |
| HOLD | 7.650 | David Baskin | Got tarred with the same brush as Enron. Have some excellent generation assets. Natural gas shortage is a problem. Easy money has been made. | 2003-07-08 | |
| BUY | 6.680 | David Baskin | Has more confidence in them now. | 2003-06-16 | |
| WEAK BUY | 4.910 | John Stephenson | Seem to be coming back and looks like they will be able to make their payments. | 2003-05-09 | |
| DON'T BUY | 3.930 | Glenn MacNeill, P.Eng. | Has a lot of debt. Great assets. Volatile. | 2003-04-14 | |
| WEAK BUY | 3.070 | David Baskin | Very cheap. Could double in 5 years, but there are some litigation problems. | 2003-03-19 | |
| DON'T BUY | 2.730 | David Baskin | | 2003-03-04 | |
| DON'T BUY | 3.110 | John Stephenson | Lower margins. Possible bankruptcy. | 2002-12-30 | |
| DON'T BUY | 2.080 | Mark Jackson, CFA | High debt load. Not sure if they can survive. | 2002-10-22 | |
| DON'T BUY | 2.320 | Arthur Heinmaa | Could go under. Big debt. | 2002-10-04 | |
| DON'T BUY | 2.830 | David Burrows | A lot of debt. Wait for some strength. | 2002-09-24 | |
| DON'T BUY | 3.470 | John Zechner | Spending level and debt is too high. | 2002-09-19 | |
| DON'T BUY | 3.520 | Glenn MacNeill, P.Eng. | High risk. Large debt. Good assets. Prefers the bonds. | 2002-09-17 | |
| DON'T BUY | 5.130 | Glenn MacNeill, P.Eng. | They are looking at doing a spin off of 3 Canadian gas fired power generators. Main customer would be Calpine. | 2002-08-29 | |
| DON'T BUY | 5.000 | David Burrows | Wait for a while to see what happens. | 2002-08-23 | |
| WEAK BUY | 3.720 | David Baskin | Probably oversold. Volatile. | 2002-08-19 | |
| WEAK BUY | 3.420 | John Sinkins, CFA | Trading at 3.5/4 X next years earnings. Cheap. Should come back. | 2002-08-14 | |
| DON'T BUY | 4.750 | Glenn Paradis, BA, CFA | Their business model is broken. Good asset base, but will have to sell off some of their assets. | 2002-07-19 | |
| BUY | 5.300 | Glenn MacNeill, P.Eng. | Has suffered because of Enron. Good capital appreciation potential. | 2002-07-17 | |
| DON'T BUY | 5.300 | Paul O'Neil | Have to get through the debt issue. | 2002-07-17 | |
| DON'T BUY | 5.880 | Mark Jackson, CFA | Tarred with the Enron brush. Geat asset base, but financial risk. | 2002-07-09 | |
| DON'T BUY | 7.030 | David Burrows | A lot of risks. | 2002-06-28 | |
| DON'T BUY | 8.600 | John Zechner | | 2002-06-06 | |
| DON'T BUY | 9.600 | David Burrows | Was tarred with the same brush as Enron. Power demands have dropped. | 2002-05-31 | |
| BUY | 9.640 | Bill MacLachlan | Reasonable buy and expects to perform better than the market over the next 6 months. | 2002-05-30 | |
| WEAK BUY | 10.310 | Paul O'Neil | Have to see power demands grow. If economy turns, it could do well. | 2002-05-27 | |
| DON'T BUY | 8.850 | Gavin Graham | Demand for power will not grow as fast as expected. | 2002-05-13 | |
| DON'T BUY | 10.320 | Gavin Graham | Risky. Has been hit hard. Power demand is not as strong as expected. | 2002-05-01 | |
| WEAK BUY | 10.320 | Mark Jackson, CFA | Looks cheap. P/E is in the 7/8 range. Looking for grwoth. | 2002-05-01 | |
| DON'T BUY | 11.000 | Brian Acker, CA | Thinks price should be higher, but too volatile at this time. | 2002-04-30 | |
| DON'T BUY | 13.330 | Steven Wippersteg | New share offering will dilute existing shares. Not financially strong. | 2002-04-23 | |
| DON'T BUY | 12.100 | Brad Willock | A lot of debt. Demand for power has dropped. | 2002-04-19 | |
| PAST TOP PICK | 12.020 | Glenn MacNeill, P.Eng. | (Was a top pick on Dec 19 down 18%) Still thinks there is a good value. High debt. | 2002-04-18 | |
| DON'T BUY | 12.280 | David Driscoll | Credit rating has been downgraded. Will drop further. | 2002-04-03 | |
| DON'T BUY | 12.510 | Glenn Paradis, BA, CFA | Too many variables at this time. A high risk. | 2002-04-01 | |
| DON'T BUY | 12.510 | Steven Wippersteg | Debt rating has been reduced by Moody's. Has a high debt level. | 2002-04-01 | |
| PAST TOP PICK | 13.680 | Glenn MacNeill, P.Eng. | (Was a top pick on Dec 19 down 5%) High debt | 2002-03-25 | |
| BUY | 11.680 | Mark Jackson, CFA | Volatile. At a good level now. Needs financing. | 2002-03-12 | |
| DON'T BUY | 13.250 | David Driscoll | Too highly leveraged. Could end up in a big squeeze. | 2002-03-08 | |
| DON'T BUY | 12.070 | John McColl | Extremely volatile. Very speculative. Watch. | 2002-03-07 | |
| DON'T BUY | 10.870 | Martin Hubbes, CFA | May not have the growth they had before. | 2002-03-06 | |
| WAIT | 7.860 | David Baskin | In the middle of re-financing. | 2002-03-04 | |
| DON'T BUY | 7.350 | Ross Healey | Very weak at this time. | 2002-02-28 | |
| DON'T BUY | 7.750 | Steven Wippersteg | Has been treated unfairly but wait for the Enron cloud to clear up. | 2002-02-27 | |
| DON'T BUY | 6.860 | Brad Willock | Large debt. Could double if conditions are right, but the risk is that it could go to zero. | 2002-02-22 | |
| BUY | 7.600 | David Baskin | Tainted by Enron brush. High debt, big capital expenditure plans. A hot California summer would create interest. Cheap. | 2002-02-19 | |
| DON'T BUY | 7.640 | David Burrows | Could drop further. | 2002-02-15 | |
| DON'T BUY | 8.070 | Brian Acker, CA | Concerned about California situation. | 2002-02-14 | |
| WEAK BUY | 7.980 | John Sinkins, CFA | Has beeen under pressure because of "off balance sheet" finances. Good cash flow/company. | 2002-02-13 | |
| BUY | 8.700 | Paul O'Neil | Good price. | 2002-02-11 | |
| DON'T BUY | 8.400 | Arthur Heinmaa | Will have to Wait and see what is happening in oilo/gas sector later this year. | 2002-02-08 | |
| BUY | 8.140 | Glenn MacNeill, P.Eng. | Suffering from Enron fallout.Good company. | 2002-02-07 | |
| DON'T BUY | 8.140 | David Baskin | A lot of debt. If maket moves against the company, the debt will be very difficult to handle. | 2002-02-07 | |
| WAIT | 6.800 | Bob Stodgell | Under :disclosure" investigation. Wait to see if anything develops. | 2002-02-06 | |
| BUY | 8.750 | Mark Jackson, CFA | Accounting looks OK. At a decent price. May drop further. Short term volatility. | 2002-02-05 | |
| BUY | 9.490 | Gavin Graham | Good value now. | 2002-02-04 | |
| BUY | 11.010 | Ross Healey | Cheap and has some good upside potential. | 2002-01-29 | |
| DON'T BUY | 12.040 | Arthur Heinmaa | Too soon to look at it now. Wait for 6/12 months. | 2002-01-28 | |
| BUY | 12.500 | Brendan Kyne | Large debt, but at a very low rate. Expanding. Reasonable value. | 2002-01-24 | |
| BUY | 13.700 | John Sinkins, CFA | Good company. Debt level is a little high. Low P/E. | 2002-01-21 | |
| PAST TOP PICK | 13.950 | Glenn Paradis, BA, CFA | (Was a top pick on Oct 31 up 78%) Difficult environment right now. | 2002-01-17 | |
| TOP PICK | 14.940 | Ray Steele | Volatile so has risks. Price is very low. A speculative opportunity. | 2002-01-16 | |
| BUY | 13.850 | Gavin Graham | Sees a need for US power plants. Has staying power. | 2002-01-15 | |
| DON'T BUY | 16.600 | Ian Nakamoto | Volatile | 2002-01-08 | |
| DON'T BUY | 16.830 | Brad Willock | Cheap, but a lot of stock. High risk. | 2002-01-02 | |
| DON'T BUY | 16.390 | Brian Acker, CA | Not a fan. Caught up in the Enron problems. | 2001-12-28 | |
| TOP PICK | 14.690 | Glenn MacNeill, P.Eng. | Speculative. Well managed. Small exposure to Enron should not affect the company. Very cheap. | 2001-12-19 | |
| HOLD | 15.910 | Paul O'Neil | Enron collapse affected the stock. Into a large build out which should be completed in 2002. Good accounting and management. Will survive. | 2001-12-12 | |
| DON'T BUY | 15.500 | Ross Healey | Expect it to bottom at its book value of $12. Has a weak balance sheet. | 2001-12-11 | |
| BUY | 21.370 | Steven Wippersteg | Surprised at drop. Good price and good upside potential. | 2001-12-07 | |
| DON'T BUY | 18.500 | David Baskin | Have to wait to see how the Enron bankruptcy will affect them. | 2001-12-03 | |
| TOP PICK | 24.860 | Glenn Paradis, BA, CFA | Should do $2.15 earnings next year. Good growth possibilities. | 2001-10-31 | |
| BUY | 27.580 | Glenn Paradis, BA, CFA | Good valuation. Some risks. A good business model. | 2001-10-16 | |
| BUY | 22.810 | Glenn MacNeill, P.Eng. | Good value. | 2001-09-28 | |
| BUY | 22.750 | Robert Lyon | The fall off in gas prices has decreased needs, but its at a good price. | 2001-09-21 | |
| DON'T BUY | 24.500 | Brian Acker, CA | Dropping. Over abundance of power now. | 2001-09-19 | |
| BUY | 33.700 | Mark Jackson, CFA | Top pick in the electrical generation sector. At a good valuation now. | 2001-08-27 | |
| DON'T BUY | 32.880 | Arthur Heinmaa | Prefers to play the energy market through the supplier like GE. | 2001-08-07 | |
| TOP PICK | 37.900 | Joe Connolly | Good price. Good revenue/profits. | 2001-07-27 | |
| TOP PICK | 35.810 | Gordon Higgins, CA, MBA, CFA | Great company. Should increase capacity by tenfold. Good value. | 2001-07-25 | |
| BUY | 43.950 | Glenn MacNeill, P.Eng. | | 2001-07-09 | |
| TOP PICK | 42.620 | Glenn Paradis, BA, CFA | Good price. Good growth. Global. | 2001-07-06 | |
| BUY | 37.100 | Joe Connolly | Down now, but once summer is over, it should do well. At a good price now. | 2001-06-21 | |
| BUY | 41.250 | Ian Nakamoto | Should continue to do well, but a volatile stock. | 2001-06-19 | |
| DON'T BUY | 45.310 | David Baskin | Stock is not cheap and they have a lot of debt. | 2001-06-07 | |
| BUY | 43.760 | Glenn MacNeill, P.Eng. | At a good price. | 2001-06-06 | |
| BUY | 48.890 | Glenn Paradis, BA, CFA | Power generation is a good sector. Should triple in growth. A good long term hold. | 2001-06-01 | |
| TOP PICK | 50.310 | Glenn Paradis, BA, CFA | Good long term. Expert at building power stations quickly, so a strong demand. | 2001-04-04 | |
| TOP PICK | 55.070 | John Sinkins, CFA | Not under California state regulations so benefiting from power shortage. | 2001-03-30 | |
Experts that have talked about Calpine Corp