Entergy Corp (ETR) PT Lowered to $117 at BMO Capital

BMO Capital analyst James Thalacker lowered the price target on Entergy Corp (NYSE: ETR) to $117.00 (from $120.00) while maintaining a Outperform rating.

The analyst commented, "Following our typical quarterly walk/review we are revising our 2Q24 estimate for ETR to $1.70 vs $1.84 in 2Q23. We believe the year-over-year decline should be well telegraphed from the commentary on the company's 1Q24 call, reflecting 2H24 weighted shaping for favorable O&M (FY24 guidance unchanged). On the call, we expect investors to focus on the LA FRP/rate case proceeding where intervenor testimony continues to be pushed out as parties pursue settlement negotiations. We remain Outperform. Our target price moves to $117 as we M-T-M peer group multiples."

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