Jefferies Cuts Price Target on Entergy (ETR) to $74 Following new Guidance
- Donald Trump Sworn in as 45th U.S. President
- U.S. stocks pare gains after Trump's inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies maintained a Hold rating on Entergy Corp (NYSE: ETR), and cut the price target to $74.00 (from $85.50), following the company's 3Q earnings report. Entergy lowered 2017-2018 earnings guidance at UP&O due to nuclear spending, higher expected pension expense, and lower retail sales growth. Management hopes to offset these negatives with rate actions, expense reductions, and interest savings through debt refinancing.
Analyst Anthony Crowdell commented, "ETR reported 3Q16 operational earnings of $2.31, versus our estimate of $2.05, Consensus of $2.02, and last year's earnings of $1.90. Management introduced the earnings impact of the nuclear sustainability plan - increased spending of $1.4B over the next three years - and lowered Utility Parent & Other earnings for 2017-2018 and EWC EBITDA guidance for 2017-2019."
Shares of Entergy Corp closed at $72.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Web.com, Inc. (WEB) PT Raised to $25 at BWS Financial Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!