Entergy (NYSE:ETR) Fairly Valued Says Jefferies (NYSE:JEF)

Entergy Corp (NYSE:ETR) is fairly valued, says Jefferies (NYSE:JEF), which included the sum-of-the-parts in their summation.

Jefferies noted, "besides rate relief, lower non-fuel O&M expense at Wholesale Commodities and accretion from share repurchases, earnings benefited from favorable weather and a gain on the sale of the Harrison County CCGT plant."

They raised their full year 2010-12 EPS estimates on Entergy from $6.95, $6.60, and $6.15 to $7.09, $6.65, and $6.20. The firm is lowering their price target on the company to $76 from $78.

Jefferies reiterates a "Hold" rating on Entergy, which closed Tuesday at $73.50, down $0.27, or 0.37 percent.