In a report released today, Carter Driscoll from B.Riley FBR reiterated a Buy rating on Just Energy Group Inc (NYSE: JE), with a price target of $6. The company’s shares opened today at $3.69, close to its 52-week low of $3.53.
Driscoll noted:
“A lot percolating underneath the hood. Just Energy (JE) reported a weak F4Q18, largely from extreme winter weather that affected its operations (as did the weather to other energy retailers in Texas). JE posted C$68.9M in base EBITDA (vs. our C$73.1M estimate), putting it at the low end of guidance for FY18; but this included a mark-to-market unrealized gain on a private investment. JE introduced FY20 base EBITDA guidance of C$200M–C$220M, up 11% (growth) at the midpoint after adjusting for the effects of IFRS 15. The guidance includes headwinds of ~C$15M in higher supplier costs for PJM territory and insurance to protect against severe- weather events. We are pleased the new management is in place and expect it to accelerate efforts to grow organically, inorganically, and with better margins.”
According to TipRanks.com, Driscoll is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.1% and a 33.3% success rate. Driscoll covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Pacific Ethanol, and Enphase Energy.
Currently, the analyst consensus on Just Energy Group Inc is Moderate Buy and the average price target is $10, representing a 171.0% upside.
In a report released today, H.C. Wainwright also assigned a Buy rating to the stock with a $10 price target.
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The company has a one-year high of $5.91 and a one-year low of $3.53. Currently, Just Energy Group Inc has an average volume of 242.1K.
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Just Energy Group, Inc. engages in the sale of natural gas and electricity to residential and commercial customers under long-term fixed-price, price-protected or variable-priced contracts and green energy products. It specializes in electricity, natural gas and solar and green energy.
