Ladenburg Thalmann Downgrades Entergy Corp (ETR) to Neutral

Ladenburg Thalmann analyst Paul Fremont downgraded Entergy Corp (NYSE: ETR) from Buy to Neutral with a price target of $109.50 (from $117.00).

The analyst comments "We are downgrading Entergy to Neutral based on valuation. We are lowering our price target to $109.50 from $117. On a 52-week basis, Entergy has outperformed the regulated electrics universe of 36 utility stocks by 12%. Entergy is currently trading at an 8% P/E discount which is appropriate given storm damage exposure from hurricanes. Although the company is making significant progress with Louisiana and New Orleans regulators in obtaining approvals to harden its system, we believe it will take several years for the investments to materialize."

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 $108.16 yesterday.

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