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B.Riley FBR Reiterates a Buy Rating on Just Energy Group Inc (JE)


B.Riley FBR analyst Carter Driscoll reiterated a Buy rating on Just Energy Group Inc (NYSE: JE) today and set a price target of $6. The company’s shares closed yesterday at $3, close to its 52-week low of $2.80.

Driscoll commented:

“We attended Just Energy’s (JE – Buy; $6.00 PT) analyst day yesterday in New York. We left with reinstilled confidence that the company is making the proper moves to remake its value proposition. The day focused on the new management team’s strategy to bundle smart energy management solutions with its core commodity offerings to drive RCE growth, expand margins, create stickier customer relationships as well as generate more consistent financial performance after several exogenous weather events. Management just raised $250M in in a multi-draw term financing (8.75% coupon due in 2023) to pay down its maturing convertible notes (July 2019) and add liquidity for future M&A (small customer books or attractive smart energy solutions most likely) opportunities.”

According to TipRanks.com, Driscoll has 0 stars on 0-5 star ranking scale with an average return of -8.6% and a 31.4% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.

Just Energy Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.25, which is a 108.3% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $6.50 price target.

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The company has a one-year high of $5.91 and a one-year low of $2.80. Currently, Just Energy Group Inc has an average volume of 311.3K.

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Just Energy Group, Inc. engages in the provision of electricity and natural gas commodities, energy efficient solutions, and renewable energy options. It operates through the Consumer Energy, and Commercial Energy segments. The Consumer Energy segment includes cash and cash equivalents, as well as the long-term debt.