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Entergy upgraded to Buy from Neutral at UBS » 06:1106/0506/05/20
UBS analyst Daniel Ford…
UBS analyst Daniel Ford upgraded Entergy to Buy from Neutral with a price target of $125, down from $140. The analyst cites valuation for the upgrade and believes the primary catalyst for the shares will occur in the fall when the company hosts an investor day. Ford views Entergy's "discounted" valuation as unwarranted.
Entergy upgraded to Outperform from Market Perform at BMO Capital » 04:5705/2105/21/20
BMO Capital analyst James…
BMO Capital analyst James Thalacker upgraded Entergy to Outperform from Market Perform with a price target of $107, down from $115. Trading at a 6% valuation discount to its electric utility peers, Entergy offers an attractive risk/reward at current share levels, Thalacker tells investors in a research note. With its EWC business, that had significant commodity exposure to volatile merchant power prices, being wound down in an orderly manner, investor attention should shift back towards Entergy's "high-quality" regulated businesses, adds the analyst. Thalacker believes this will result in Entergy shares again trading at a slight premium to the group.
Entergy initiated with a Buy at Seaport Global » 07:3505/2005/20/20
Seaport Global analyst…
Seaport Global analyst Angie Storozynski initiated coverage of Entergy with a Buy rating and $108 price target. While the analyst expects Entergy to grow its EPS at a 5.3% CAGR in 2019-2022, marginally slower than an average pure-play regulated utility, the analyst says its electric utility service territory on the Gulf Coast coupled with one of the lowest electric rates in the country bode well for the ongoing premium growth in Entergy's regulated rate base. While sharply lower oil prices, the narrowing of the Brent-NYMEX gas price spread, and the COVID-19 pandemic heavily weighed on Entergy's C&I electric volumes, the analyst notes that no industrial projects have been canceled in Entergy's service area, and the company's higher utility capex could be used to revive the Gulf Coast economy just like after Hurricane Katrina.
Entergy initiated with a Buy at Seaport Global » 07:2305/2005/20/20
Seaport Global initiated…
Seaport Global initiated coverage of Entergy with a Buy rating and $108 price target.
Entergy price target lowered to $120 from $150 at Wells Fargo » 08:0905/1205/12/20
Wells Fargo analyst Neil…
Wells Fargo analyst Neil Kalton lowered the firm's price target on Entergy to $120 from $150 to reflect materially lower peer group multiples, while keeping an Overweight rating on the shares. The analyst notes that the company affirmed 2020 EPS guidance of $5.45-$5.75 as projected cost savings of $100M are anticipated to largely offset the negative revenue impact of $120M-$140M from lower expected retail sales due, in large part, to COVID-19.
Entergy affirms FY20 adjusted EPS view $5.45-$5.75, consensus $5.53 06:4305/1105/11/20
Entergy reports Q1 adjusted EPS $1.14, consensus 92c » 06:4205/1105/11/20
"The past few months…
"The past few months have presented extraordinary circumstances, and we extend our well-wishes to all affected. We also extend our deepest thanks to everyone working tirelessly to help those in need," said Entergy Chairman and CEO Leo Denault. "Providing safe, reliable power is essential, especially during times like these; that's why at Entergy we plan and prepare for the extraordinary, and our response has been effective. We are meeting the needs and expectations of our customers and communities, our major projects remain on track, and our capital plan is unchanged. Our first quarter results were solid, and recent events have not changed our objective to be the premier utility that delivers sustainable value for our stakeholders."
Entergy upgraded to Buy from Hold at Argus » 07:1704/2704/27/20
Argus analyst Jacob…
Argus analyst Jacob Kilstein upgraded Entergy to Buy from Hold with a $115 price target. The analyst notes that he is positive on Utilities relative to other sectors in the current environment, as low interest rates make utility dividends more attractive. Kilstein also expects the demand for electricity and to hold up better during the pandemic than discretionary consumer spending. At a 20.1-times his expected FY20 earnings, the analyst adds that the valuation on Entergy is "modest" relative to the higher multiples of the company's slower growing peers.
Entergy upgraded to Buy from Hold at Argus » 07:1004/2704/27/20
Argus analyst Jacob…
Argus analyst Jacob Kilstein upgraded Entergy to Buy from Hold with a $115 price target.
Entergy price target raised to $113 from $95 at Mizuho » 06:4604/2704/27/20
Mizuho analyst Paul…
Mizuho analyst Paul Fremont raised the firm's price target on Entergy to $113 from $95 and reiterates a Buy rating on the shares. The analyst says that despite reduced estimates on lost sales from COVID-19, Entergy remains among his best investment ideas.