Entergy initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Entergy (ETR) with an Overweight rating and $105 price target The company is in the sweet spot of load growth data centers, with incremental capex that is accretive to EPS, supportive regulatory and economics development frameworks, vertical integration and an improving balance sheet, the analyst tells investors in a research note. Entergy is also seen as a “key example of thematics converging with fundamentals”, the firm added.