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

By Ryan Adsit

B.Riley FBR analyst Christopher Van Horn maintained a Buy rating on Just Energy Group Inc (JEResearch Report) today and set a price target of $6. The company’s shares closed last Monday at $1.88, close to its 52-week low of $1.78.

Van Horn noted:

“Just Energy (JE—Buy, $6 PT) reported F1Q20 results, AMC, on August 14. Recall that, in June 2019, JE announced it will have a formal review to explore strategic alternatives. In our view, the company continues to explore many things, including a possible sale of the company. The prospect of an acquisition keeps us at Buy rating and based on recent takeouts in the utility and retail energy space (El Paso Electric to be acquired by Infrastructure Investment Fund, NRG acquiring Stream, and Vistra acquiring Crius), we expect a transaction to be a likely strategic alternative. We believe there are multiple players in the retail energy space that could and would look at the JE assets, including and IGS Energy, to name a few.”

According to TipRanks.com, Horn is a 1-star analyst with an average return of -0.4% and a 43.6% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Crawford United Corporation Class A, Motorcar Parts Of America, and Standard Motor Products.

Just Energy Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.25.

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The company has a one-year high of $4.42 and a one-year low of $1.78. Currently, Just Energy Group Inc has an average volume of 504K.

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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 following segments: Consumer Energy, and Commercial Energy. The Consumer Energy segment includes cash and cash equivalents, as well as the long-term debt.