Entergy price target lowered to $117 from $120 at BMO Capital

BMO Capital lowered the firm’s price target on Entergy to $117 from $120 but keeps an Outperform rating on the shares. Year-over-year decline in earnings should be well telegraphed from the commentary on the company’s Q1 call, reflecting second-half-weighted shaping for favorable Operations and Maintenance backdrop, the analyst tells investors in a research note. BMO adds that its reduced price target on Entergy reflects a mark-to-market peer group multiple adjustment.