UPDATE: Deutsche Bank Lowers PT on Entergy to $70 (ETR)

Deutsche Bank is out with its report on Entergy ETR, lowering its PT from $73 to $70. In a note to clients, Deutsche Bank writes, "Friday's meeting was informative and touched on all the key issues facing ETR, but there was no major new announcement to provide the catalyst that some were apparently looking for. ETR reviewed strategies and its outlook for the utility and merchant businesses while reaffirming prior financial targets. We are maintaining our Hold but lowering our TP to $70 from $73 reflecting a reduced 2013E on updated hedging disclosures at Entergy Wholesale Commodities." Shares of ETR closed Friday at $69.72, down 0.37% from Thursday's close.