CenterPoint Energy upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded CenterPoint Energy (CNP) to Outperform from In Line with a price target of $37, up from $36. With visibility into a positive resolution of the Texas electric rate case and a settlement decision due on the Commission agenda for March 13, the firm believes the stock will return to its pre-2024 premium of 10%-plus, from 5% currently, the analyst tells investors. Management has “effectively navigated a challenging 2024,” responding to the disappointing Hurricane Beryl storm response in Texas with “prudent and well-coordinated operational and financial actions,” the analyst tells investors.