Wells Fargo Maintains Buy Rating on Entergy (ETR) Stock

Entergy Corporation (NYSE:ETR) is one of the Best Conservative Stocks to Buy Right Now. On March 17, analyst Neil Kalton of Wells Fargo maintained a “Buy” rating on the company’s stock, with a price objective of $119.00. The rating is backed by the factors that hint at durable earnings growth and undervaluation.

Wells Fargo Maintains Buy Rating on Entergy (ETR) Stock

The analyst noted the views of management that new energy service agreements, along with combined-cycle gas generation projects, and expected long-term regulated nuclear investments can result in incremental EPS over time. All this can take place with Entergy Corporation (NYSE:ETR) being on its existing growth path.

Entergy Corporation (NYSE:ETR) is also well-placed to benefit from increased data center and hyperscaler power demand, added Kalton. The analyst believes that the company’s participation in emerging nuclear consortia, as well as projects backed by hyperscalers, helps the growth story.  Notably, the flexibility on CCGT (combined-cycle gas turbine plants) timing and agreements is also expected to provide support.

Entergy Corp. (NYSE:ETR) happens to be a major energy producer and distributor.

While we acknowledge the risk and potential of ETR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ETR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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