Entergy Corporation (NYSE:ETR) is one of the Best Conservative Stocks to Buy Right Now. On March 17, analyst Neil Kalton of Wells Fargo maintained a “Buy” rating on the company’s stock, with a price objective of $119.00. The rating is backed by the factors that hint at durable earnings growth and undervaluation.
The analyst noted the views of management that new energy service agreements, along with combined-cycle gas generation projects, and expected long-term regulated nuclear investments can result in incremental EPS over time. All this can take place with Entergy Corporation (NYSE:ETR) being on its existing growth path.
Entergy Corporation (NYSE:ETR) is also well-placed to benefit from increased data center and hyperscaler power demand, added Kalton. The analyst believes that the company’s participation in emerging nuclear consortia, as well as projects backed by hyperscalers, helps the growth story. Notably, the flexibility on CCGT (combined-cycle gas turbine plants) timing and agreements is also expected to provide support.
Entergy Corp. (NYSE:ETR) happens to be a major energy producer and distributor.
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