12:26 PM EST, 11/04/2024 (MT Newswires) -- Entergy's ( ETR ) updated strategic business plan has bolstered growth outlook, but associated execution risks and elevated valuation are reasons to adopt a more cautious view, BofA Securities said in a note Monday.

Although Entergy's ( ETR ) projects to increase nuclear capacity at existing facilities by 300 megawatts support long-term growth, they involve high levels of investment and execution significant risks, the firm added.

BofA said it is adding a relative premium for Entergy Louisiana's operations due to a favorable regulatory framework, and increased large customer demand that could support above-average load growth.

The firm downgraded Entergy ( ETR ) to neutral from buy, but raised its price objective to $154 from $138.

The company's shares were down 2% in recent trading.

Price: 141.68, Change: -3.11, Percent Change: -2.15