Goldman Sachs Raises Cleco Corp. Price Target (CNL)

After Cleco Corp. (NYSE: CNL) announced second quarter earnings, Goldman Sachs reiterated its Neutral rating on the stock. Goldman Sachs raised its price target on the stock to $27 from $26.

Goldman Sachs "remains Neutral rated on Cleco Corp., given the limited upside from current levels to our target price." Goldman Sachs adjusted 2012 and 2013 earnings estimates upward.

Goldman Sachs notes that the "Primary risks to [analysts'] view and price target include lower-than-expected demand growth, general rate case or regulatory risk, and limited rate base growth after 2010."

Shares of Cleco Corp. fell slightly Monday, to close at $28.02.