Argus raised the firm’s price target on Entergy (ETR) to $85 from $65 and keeps a Buy rating on the shares. The company has been reducing its exposure to wholesale energy markets over the past few years in an effort to stabilize earnings, and over the long term, Argus is positive on Entergy’s strategy of investing in regulated utilities to replace aging infrastructure and improve reliability, the analyst tells investors in a research note. The company’s pipeline of planned renewable projects is also growing as it plans to have 11,000 MW of renewable resources by 2030, the firm added.
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