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Fly News Breaks for January 18, 2019
VVC, CNP
Jan 18, 2019 | 06:33 EDT
RBC Capital analyst Shelby Tucker upgraded CenterPoint Energy (CNP) to Outperform and raised his price target to $34 from $29, saying the company's "merger process overhang" with Vectren (VVC) has largely passed. Having received a final approval from Indiana Utility Regulatory Commission on the merger, the analyst says the company deserves a premium given its "attractive asset footprint" and upside room for additional capital spending to take advantage of the "low cost gas supplies from the neighboring Marcellus/Utica" region.
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