UPDATE: Citigroup Lowers PT on Entergy Following Merger Proposal Withdrawal

In a report published Monday, Citigroup analyst Shahriar Pourreza reiterated a Neutral rating on Entergy ETR, but lowered the price target from $74.00 to $69.00.

In the report, Citigroup noted, “We rate the shares of Entergy Corporation Neutral (2). Entergy's investment outlook is influenced by 1) natural gas and power prices, 2) whether its merchant nuclear plants in Vermont and New York overcome local opposition to their continued operation, and 3) whether its value-enhancing proposed asset sale to ITC can get a multitude of state approvals. Indian Point and Vermont Yankee will likely continue to be an overhang on shares for some time while the court challenges, environmental permits, and NRC operating license extensions are hashed out, but we believe the risk is well understood by Investors and baked into shares at this point.”

Entergy closed on Friday at $66.90.