Vistra Energy Corp. (VST) saw its shares surge over 5% during Tuesday's intraday trading session, propelled by analyst upgrades and optimism surrounding the company's core business prospects.

Bank of America Securities played a pivotal role in the stock's rally, upgrading Vistra from "Neutral" to "Buy" and setting a new price target of $152. The investment bank cited Vistra's undervalued position, noting that its strong core business in baseload power generation and competitive retail energy services is well-positioned to benefit from tightening markets and increasing demand, even without securing data center deals.

Analysts at BofA Securities expect regulatory clarity from the Federal Energy Regulatory Commission and the Texas legislature in the coming months, potentially paving the way for data center deals. While these deals are not factored into the firm's valuation, they could provide additional upside for Vistra.