November 13, 2018 / 4:01 AM / 2 years ago

BUZZ-Just Energy: Canaccord Genuity upgrades after Q2 sales beat

** Canaccord Genuity raises rating on Just Energy Group Inc to “speculative buy” from “hold”

** Raises PT to C$5.50, up ~10 pct vs median price target of C$5

** Co reported Q2 2019 results last week with sales rising 12 pct

** Canaccord Genuity says Q2 results better-than-expected and were positively impacted by improvement in gross margins helped by recent pricing initiatives

** Says weather volatility in Texas provided opportunities for pricing improvement and hence near-term impact on the financial results and share price should be positive for Just Energy

** However, it is too early to say if the price increases will hold in a competitive market like Texas or whether the customer attrition rate will increase over the longer term hence recommends waiting for Q3/FY19 results to better determine making an investment decision - Canaccord Genuity

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