Entergy price target raised to $140 from $131 at BMO Capital

BMO Capital analyst James Thalacker raised the firm’s price target on Entergy to $140 from $131 and keeps an Outperform rating on the shares. The firm is cutting its Q3 EPS view by 35c to $2.92, but the year-over-year decline should be well telegraphed given the significant Q3 weather benefit and management commentary, the analyst tells investors in a research note. BMO adds that it sees several positive aspects to Entergy, as the company executes on its improving resilience efforts and deploys regulatory capital under formulaic rate plans with visibility and underlying support from customer decarbonization.