Morgan Stanley raised its price target on Entergy Corporation from $94 to $103 while maintaining an Equal Weight rating. The new target still implies a downside of over 11% from current levels. The revision came as the firm updated its price objectives for Regulated & Diversified Utilities and IPPs in North America, noting the utilities sector fell 5.5% in May against a 5.1% gain for the S&P 500. Entergy recently reaffirmed its 2026 adjusted earnings guidance of $4.25 to $4.45 per share and raised its long-term outlook, lifting the 2027 forecast by $0.20 and the 2029 forecast by $0.50 to $6.40 per share, supported by an expected 8.5% compound annual retail sales growth through 2029 including 16% annual industrial growth.
Entergy CorporationMorgan Stanley raised price target but maintains Equal Weight rating with target implying over 11% downside; company raised long-term guidance.