Credit Suisse analyst Michael Weinstein upgraded CenterPoint Energy to Outperform from Neutral, calling it a "cleaner, more regulated, and more confident earnings growth story" after new senior management has reset guidance expectations for 2020 and beyond. Despite the upgrade, he has lowered his price target to $27 from $28 to account for lower forward estimates and lower peer utility valuations.

Scotiabank analyst Andrew Weisel lowered the firm's price target on CenterPoint Energy to $29 from $31 and keeps a Sector Perform rating on the shares. Interest rates remain stubbornly high, which has weighed on the sector's valuation, the analyst tells investors. The firm views both Canadian and North American utility stocks as undervalued but sees upside for Canadian utility stocks following their steady underperformance compared to its U.S. peers. Fundamentally, Scotiabank remains bullish on the group's long-term earnings outlook given the tailwinds driving its strong rate base growth.