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Fly News Breaks for September 6, 2019
CNP
Sep 6, 2019 | 06:58 EDT
SunTrust analyst Ali Agha upgraded CenterPoint Energy to Buy and raised his price target to $32 from $30, saying the current valuation discount of 13%-14% on the stock "overly penalizes" its earnings outlook concerns which he expects to be addressed in the coming months. The analyst contends that even in the event of a worse than expected outcome for the pending Houston Electric rate case and a "declining earnings" scenario for the company's midstream investment, the stock should still be trading at a 7%-10% P/E multiple discount relative to the peers.
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