KeyBanc Starts CenterPoint Energy (CNP) at Buy

April 29, 2013 5:40 PM EDT
Get Alerts CNP Hot Sheet
Price: $25.60 +0.63%

Rating Summary:
    7 Buy, 14 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc initiated coverage on CenterPoint Energy (NYSE: CNP) with a Buy rating and a price target of $28.00. Analyst Matt Tucker said the company's plans to form a midstream MLP with OGE (NYSE: OGE) justifies revaluations of shares.

"While we acknowledge and think it is widely understood that the unequal ownership structure of the proposed MLP will likely lead to a few cents of dilution in 2013 and 2014, we believe investors are willing to focus on the stronger long-term growth potential and near-term valuation and balance sheet aspects of the MLP deal," said Tucker

For an analyst ratings summary and ratings history on CenterPoint Energy click here. For more ratings news on CenterPoint Energy click here.

Shares of CenterPoint Energy closed at $24.26 yesterday.

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