UPDATE: Bank of America Upgrades CenterPoint Energy; Raises PO

According to a research report published this morning, Bank of America has upgraded CenterPoint Energy CNP from Neutral to Buy, and raised PO from $21 to $22. In the report, Bank of America commented, "CNP is an attractive gas infrastructure story with significant LT growth investment prospects and potential valuation upside of an MLP. CNP received ~$1.7B of proceeds from a TX Supreme Ct decision. We do not believe the current stock price reflects any accretive use of cash. We believe CNP will likely be able to deploy this cash into projects that drive upside and then consider forming an MLP. We see the downside to the stock around $19 on status quo, but see possible upside to $27 with an MLP and attractive investments." CenterPoint Energy closed yesterday at $19.72.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsBank of America
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!