Entergy Corp (ETR) PT Lowered to $89 at BMO Capital

BMO Capital analyst James Thalacker lowered the price target on Entergy Corp (NYSE: ETR) to $89.00 (from $94.00) while maintaining a Outperform rating.

The analyst commented: "Solid Quarter Expected but Updates and Macro TBD; ETR will host its 1Q25 call on April 29. We expect 1Q25 EPS results slightly above consensus at $0.74, up ~37% YoY. However, we expect relative performance to be driven by the possibility of a third consecutive quarter increasing the capital plan as well as any commentary from management on the potential impacts of tariffs including the possibility of a recession and any readthroughs for its more industrial-heavy customer base. Remain Outperform rated but lower our TP to $89 as we MTM the peer multiples in our SOTP.

We remain Outperform. While we expect the macro to heavily influence relative performance in the interim, we believe incremental EPS revisions/associated multiple expansion should occur with additional large load announcements. Moreover, ETR has a largely quiet regulatory calendar and has priced a significant amount of required equity financing."

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