Entergy price target raised to $170 from $137 at Wells Fargo

Wells Fargo analyst Neil Kalton raised the firm’s price target on Entergy (ETR) to $170 from $137 and keeps an Overweight rating on the shares. Entergy provided a “robust” financial update, and while Wells has long viewed Entergy’s strong industrial sales growth profile as unique and underappreciated, the firm did not anticipate a major update in conjunction with Q3 results, the analyst tells investors in a research note. Entergy increased the 5-yr CapEx by 20% and the ’26-28 EPS guidance ranges by 4%-9% largely driven by higher planned transmission and generation investment, Wells says.