Entergy upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Entergy to Overweight from Equal Weight with a price target of $138, up from $115. The company had several positive regulatory developments this summer but the shares still trade at a discount to peers, the analyst tells investors in a research note. Outside of regulatory, the firm says Entergy’s largest multiple detractor has been storm risk, where management is “proving out recent resiliency investments with positive restoration efforts on Hurricane Francine this past weekend.” With a combination of sector high earnings growth underpinned by above average industrial growth, Entergy “can make its way to a small premium through the next year,” contends Barclays.