Zacks Investment Research upgraded shares of Entergy Corporation (ETR) from NEUTRAL to OUTPERFORM on July 26, 2013, with a target price of $84.00.
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.
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