Jefferies Boosts PT Entergy Corp (ETR) to $78; Adjusts FY11 EPS Higher, FY12-14 EPS Lower

Jefferies boosted its target on Entergy (NYSE: ETR) frim $76 to $78, maintaining a Buy rating on the stock.

Jefferies said its increasing fiscal 2011 earnings expectations by $1.01 to $7.50 per share. However, the firm is lowering its EPS outlook in 2012 from $6.10 to $5.90, 2013 from $5.85 to $5.75, and 2014 from $6.35 to $6.20.

On the fiscal 2011 EPS increase, Jefferies said, "Entergy revised its guidance range by $0.80 (as a result of an IRS tax settlement) when it released preliminary third-quarter earnings of $3.52 on October 18th,"

For 2012 and beyond, Jefferies said, "revisions reflect updates to our forecast model, including for forward commodity prices, the timing of assumed rate relief, planned power plant purchases and share repurchase."

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 $69.01 yesterday.

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