Overview
- Jefferies initiated coverage of Entergy on September 4 with a Buy rating and a $109 price target, describing it as the utilities sector’s “best-positioned AI load play.”
- Jefferies cited 8 GW of generation contracted with Meta and Amazon, another 7 GW reserved, possible Google contracts pending, and an estimated 11%–15% EPS CAGR from 2024 to 2030.
- On September 25, Jim Cramer included Entergy among relatively cheap S&P 500 names, saying it is growing a bit faster than the index while trading at a slightly lower P/E multiple.
- Cramer pointed to Meta’s planned $10 billion Louisiana data center and ongoing LNG export facility build-outs as potential demand drivers for Entergy’s region.
- Cramer previously told a July caller “don’t buy, don’t buy” on ETR, and the publisher of the articles promotes certain AI stocks as offering greater upside than the utility.