Morgan Stanley analyst David Arcaro raised the firm’s price target on CenterPoint Energy to $32 from $30 and keeps an Equal Weight rating on the shares. In August, Regulated & Diversified Utilities / IPPs in North America outperformed the S&P’s +2.43% return by 238 bps, the analyst tells investors. With interest rates declining, a potential economic slowdown ahead, and expected data center updates, the firm believes the industry could outperform by approximately 5% but notes the sector’s mixed performance in previous soft landings.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNP:
- CenterPoint Energy reinstated with a Neutral at BofA
- CenterPoint Energy names Keith Stephens as Chief Communications Officer
- CenterPoint to forego $110M of profit related to storm hardening, backs EPS view
- CenterPoint Energy price target lowered to $32 from $35 at Argus
- CenterPoint Energy price target raised to $30 from $29 at Morgan Stanley