Entergy Corp. (NYSE:ETR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. The firm currently has a $84.00 price objective on the stock. Zacks‘ price target would indicate a potential upside of 19.85% from the company’s current price.
Zacks‘ analyst wrote, “We upgrade our recommendation on Energy Corp. to Outperform from Neutral. The upgrade is based on the company’s impressive first quarter 2013 results that experienced a significant improvement year over year driven by major generation investments in 2012. Entergy is well positioned due to its geographically-diverse mix of regulated and merchant operations, along with its strong balance sheet. The company is also focused on maximizing shareholder value through its ongoing stock buyback program and incremental dividend. Looking forward, Entergy is making steady progress to spin off its electric-transmission business. We believe the combination of positive rate changes and asset divestiture will bode well for the company’s growth objectives. “
ETR has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Entergy Corp. from $71.00 to $69.50 in a research note to investors on Friday, July 19th. They now have a “hold” rating on the stock. Separately, analysts at Deutsche Bank upgraded shares of Entergy Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, July 8th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Entergy Corp. in a research note to investors on Wednesday, June 19th. They now have a $74.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $70.25.
Shares of Entergy Corp. (NYSE: ETR) traded down 0.16% during mid-day trading on Friday, hitting $69.98. Entergy Corp. has a one year low of $61.09 and a one year high of $74.50. The stock’s 50-day moving average is currently $69.58. The company has a market cap of $12.469 billion and a P/E ratio of 10.76.
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations.
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