Morgan Stanley upgraded Entergy (ETR) to Equal Weight from Underweight with a price target of $150, up from $116. The company now has improved outlooks for growth and risk, as industrial sales help earnings grow above peers at 8%-9%, and Louisiana regulatory issues have been resolved more constructively than expected, the analyst tells investors in a research note. The firm says that while hurricane risk is still a structural challenge, the shares offer a more balanced risk/reward at current levels.
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