FBR Capital Thinks Just Energy Group Inc’s Stock is Going to Recover

By Carrie Williams

In a report released yesterday, Carter Driscoll from FBR Capital reiterated a Buy rating on Just Energy Group Inc (NYSE: JE), with a price target of $7.50. The company’s shares opened today at $5.09, close to its 52-week low of $4.86.

Driscoll noted:

“Key takeaways from investor meetings. We recently hosted investor meetings with Just Energy’s management team, and our key takeaways are as follows: (1) JE’s strategic vision involves bundling commodity energy and technology solutions to give customers more control over energy usage and cost; (2) channel expansion using national stores and other means to drive customer growth; (3) international expansion in Germany, Ireland, and Japan; (4) de-leveraging is complete, and free cash flow is building; (5) attractive yield pays investor to wait.”

According to TipRanks.com, Driscoll is ranked 0 out of 5 stars with an average return of -6.8% and a 35.7% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Hydrogenics Corp.

Just Energy Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $8.75.

Based on Just Energy Group Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $716 million and GAAP net loss of $33.36 million. In comparison, last year the company earned revenue of $783 million and had a net profit of $17.32 million.

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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. The company operates through three divisions: Consumer Division, Commercial Division and Residential Solar Division. The Consumer Division provides services to residential and small commercial customers. The Commercial Division provides services to mid-size commercial customers. The Residential Solar sells complementary energy management solutions to solar customers. Just Energy Group was founded by Rebecca MacDonald in July 1997 and is headquartered in Mississauga, Canada.