Bank of America Comments On Entergy

Bank of America has published a research report on Entergy ETR after federal courts denied Entergy's preliminary injunction. Bank of America reported that, "Our price objective for ETR is $68. We use an average utility multiple of 12.5x 2013E utility earnings and 8.5x 2013E adjusted EBITDA for nuclear. Our nuclear EBITDA is adjusted for an assumed shut down of Vermont Yankee and a 25% probability of an Indian Point shut down. Our average utility multiple represents steady regulated growth and improving jurisdictions." Bank of America rated Entergy an Underperform with a price rating of $68.00. Entergy closed Monday at $67.22.