Just Energy Group Inc (JE) Gets a Buy Rating from H.C. Wainwright


In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Just Energy Group Inc (NYSE: JE), with a price target of $6.50. The company’s shares closed yesterday at $3, close to its 52-week low of $2.80.

Dayal noted:

“We believe that, once finalized, this transaction could prove to be a positive development for the company because: (1) JE expects this transaction to be immediately accretive; (2) bulk of the consideration to be paid for the acquisition is in the form of non-cash earn-out payments (paid in common shares), that are contingent upon achieving performance based milestones; (3) Filter Group has a recurring, subscription based service model with a sticky customer base; (4) acquisition diversifies JE’s product mix with non-commodity products and services offerings; and (5) business combination opens up potentially synergistic cross-selling opportunities for the two companies. In our opinion, this acquisition is in line with the steps taken by JE toward transforming itself from a retail energy provider to a consumer-centric company.”

According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.2% and a 39.6% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.

Currently, the analyst consensus on Just Energy Group Inc is a Moderate Buy with an average price target of $6.25, a 108.3% upside from current levels. In a report issued on September 10, B.Riley FBR also assigned a Buy rating to the stock with a $6 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.

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