Wells Fargo Upgrades Entergy Corp (ETR) to Outperform; Nuclear Uncertainties Remain, But Compelling Risk/Reward

Wells Fargo upgraded Entergy Corp (NYSE: ETR) from Market Perform to Outperform. Valuation range increased from $76-77 to $77-78.

Wells analyst says, "We believe the current share price offers investors a compelling risk/reward proposition despite uncertainties related to pending nuclear unit licenses extensions. Positive features include a strong balance sheet/cash flow outlook and a 5% dividend yield...Our Outperform rating is premised on our belief that ETR’s share price is currently discounting close to a worst-case scenario for Entergy’s unregulated nuclear units. Based on our sum-of-the-parts valuation analysis, we estimate ETR’s present value to be $64-82/share, which compares with the current share price of approximately $67/share."

For more ratings news on Entergy Corp click here and for the rating history of Entergy Corp click here.

Shares of Entergy Corp closed at $67.22 yesterday.

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