Entergy (NYSE: ETR) Price Target Raised Following Strong Q1 Revenue Growth

• Scotiabank increased its price target for Entergy to $129, indicating potential upside for the utility stock.
• Entergy reported a robust 12% year-over-year revenue increase to $3.19 billion in Q1 2026, surpassing analyst estimates.
• Strong industrial demand, particularly from data centers, fueled Entergy's impressive revenue performance.

Entergy (NYSE: ETR) is a U.S. electric utility company involved in electric power production and retail distribution. It serves customers across parts of Arkansas, Louisiana, Mississippi, and Texas. With a market capitalization of approximately $53 billion, Entergy is a major operator within the American energy sector.

On April 30, 2026, Scotiabank raised its price target for ETR to $129 from a previous target of $114. When the update was announced, the stock was trading at $115.57. This new price target indicates a potential increase of around 11.62% from the stock's price at that time.

This optimistic revision follows Entergy's first-quarter 2026 financial results. The company's revenues increased 12% year-over-year to $3.19 billion, beating the $3.01 billion consensus estimate. However, its earnings per share (EPS) of $0.86 missed the $0.89 estimate. EPS is a company's profit divided by its number of common stock shares.

The strong revenue growth was fueled by a significant increase in industrial demand. As highlighted by Zacks, weather-adjusted retail sales grew by 6.0%, with industrial volume jumping 14.9%. This growth was attributed to higher sales to customers in the data center, primary metals, and transportation sectors.

This demand helped ETR's first-quarter profit rise 6.7%, as noted by Reuters, which helped balance the impact of rising costs. The company also confirmed its 2026 guidance and raised its longer-term outlooks. As reported by PR Newswire, a new hyperscale agreement in Louisiana is set to provide substantial savings for retail customers.