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Fly News Breaks for September 5, 2018
VVC, CNP
Sep 5, 2018 | 06:47 EDT
JPMorgan analyst Christopher Turnure upgraded CenterPoint Energy (CNP) to Overweight and raised his price target for the shares to $31 from $29. After modeling the impact of CenterPoint's pending acquisition of Vectren (VVC), the analyst sees an "attractive outlook for the proforma company" with 8.2% annual earnings growth through 2021 "under a conservative range of assumptions." CenterPoint trades at a 5% discount on 2019 earnings versus large cap peers despite 8%-plus growth in 2020-2021 plus a 4% yield, Turnure tells investors in a research note.
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