UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Entergy Corporation

In a report published Monday, Credit Suisse reiterated its Neutral rating on Entergy Corporation ETR, and raised its price target from $68.00 to $73.00. Credit Suisse noted, “We see 2013 offering potential regulatory opportunity but a lot of challenges over the next 9 months, with planned rate cases in AR, LA and potentially in TX (along with challenges to the 2012 rate case decision) as well as the lengthy and complicated ITC spin-merge transaction. Combining the regulatory hurdles with earnings pressure at Wholesale, we think ETR shares will be range-bound until tangible catalysts can be identified in either direction. We are lowering our target price to $68 (from $73), maintaining a NEUTRAL rating and lowering our '13-'15 estimates to $4.79, $4.89 and, $5.00 (from $4.95, $5.14 and $5.47), respectively.” Entergy Corporation closed on Friday at $64.47.