Entergy upgraded to Buy from Neutral at UBS

UBS upgraded Entergy to Buy from Neutral with a price target of $118, up from $103. The recent settlement with Arkansas around litigation with Entergy’s SERI segment removes a substantial amount of the financial risk that has long been an overhang on the stock, which should clear the way to focus on the upcoming financial outlook update at the EEI conference, the analyst tells investors in a research note. UBS believes Entergy will revise higher the capex outlook and thinks the company can provide credible support to achieving and sustaining the midpoint of its 6%-8% annual EPS growth plan.