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 opened today at $3.05, close to its 52-week low of $2.80.
Driscoll wrote:
“We revisit some embedded value we do not believe was fully explored during Just Energy’s (JE; Buy, $6.00 PT) analyst day on 9/14. In addition to expected margin expansion from recent price increases that, we think, could add up to an incremental $100/RCE for the consumer segment, we see optionality from one of JE’s equity investments: JE owns 7.8% equity in privately held smart-thermostat provider ecobee, which is on its books for C$32.5M, implying a value of ~C $415M. However, we believe ecobee could be a worth a lot more. JE also won a lawsuit against former door-to-door sales people concerning minimum wage and overtime payments; C$4M was allocated to its settlement.”
According to TipRanks.com, Driscoll ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.7% and a 34.9% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Just Energy Group Inc with a $6.25 average price target, implying a 104.9% upside from current levels. In a report issued on September 14, H.C. Wainwright also maintained a Buy rating on the stock with a $6.50 price target.
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Based on Just Energy Group Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.05 million. In comparison, last year the company had a net profit of $77.24 million.
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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.
