Entergy downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Entergy (ETR) to Sector Weight from Overweight without a price target The firm cites valuation for the downgrade. While the company’s geographical and regulatory positioning will allow for attractive, above-average growth rates, the current valuation is reflecting this at the moment, the analyst tells investors in a research note. KeyBanc sees the current thesis as played out and prefers to focus on more discounted names with more attractive risk/reward for the time being.