Macquarie Comments On 'Overblown' Concerns Regarding CenterPoint's Tentative Bid For Cleco

Macquarie analyst Andrew Weisel commented on M&A opportunities for Cleco CNL following management's confirmation of indications of interest.

Weisel noted that investors concerns on CenterPoint Energy CNP bid are "overblown."

Weisel commented that CenterPoint has a "disciplined" management, looking for deals that would benefit the company and be accretive within the first year.

Macquarie sees long-term dividend growth for CenterPoint of approximately 10 percent per year through 2018.

Weisel reiterated an Outperform rating and $27.00 price target on CenterPoint Energy.

Shares of CenterPoint Energy closed at $24.58 on Friday.