Jefferies Has Buy On Entergy (ETR)

Jefferies & Co. has a Buy rating and a $77.50 price target on shares of Entergy ETR. In a note to investors, Jefferies writes, "Jefferies believes that both Indian Point and Vermont Yankee will likely remain in service in the aftermath of the Japanese crisis, and that the NRC is unlikely to single out plants that are currently undergoing relicensing for more stringent safety requirements. Both plants are deemed necessary for regional system reliability. Indian Point generates about 30% of NYC's power needs and Vermont Yankee supplies a comparable amount of Vermont's needs. They also represent the low variable-cost source of power supply." Shares of ETR lost 39 cents on Friday to close at $66.61, a loss of 0.6%.