Jefferies Raises Price Target on Entergy (ETR) to $82.50; Reiterates Hold

Jefferies reiterated a Hold rating on Entergy Corp (NYSE: ETR), and raised the price target to $82.50 (from $75.50). Following the resolution of ETR's AR rate case in February, the company is now operating under formula rate plans in AR, LA, and New Orleans, which account for 79% of 2016 estimated Utility earnings. In addition to ETR's rate base guidance through 2018, the company has given some clarity on future generation projects.

Analyst Anthony Crowdell commented, "We find Entergy to be fairly valued, but recognize that the regulated business' prospects are improving. More subsidiaries are transitioning to formula rate plans with average to above-average ROEs, sales growth remains above average, and we have some clarity on large generation projects outside of the rate base guidance period. We value the wholesale business at ~$2.50 per share."

For an analyst ratings summary and ratings history on Entergy Corp click here. For more ratings news on Entergy Corp click here.

Shares of Entergy Corp closed at $76.96 yesterday.

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