KeyBanc raised the firm’s price target on Entergy (ETR) to $162 from $143 and keeps an Overweight rating on the shares. Entergy reaffirmed its 2024 guidance and 6%-8% EPS growth rate through 2025, its long-term EPS compound annual growth rate was raised to 8%-9%, underpinned by a 300 basis point increase to the industrial sales forecast and a $7B increase to the capital plan, driven by the arrival of a large-load data center customer and broader demand growth in the region, the analyst tells investors in a research note. These updates validate the firm’s longstanding thesis on Entergy, and the firm continues to see upside, given attractive growth runway in Entergy’s territories.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ETR:
- Entergy’s Earnings Highlight Strategic Growth and Investments
- Early notable gainers among liquid option names on October 31st
- Entergy Reports Strong Q3 2024 and Strategic Investments
- Entergy narrows FY24 adjusted EPS view to $7.15-$7.35 from $7.05-$7.35
- Entergy announces two-for-one forward stock split