Mizuho Securities Downgrades CenterPoint Energy (CNP) to Neutral, 'First Place Is as Good as It Gets'

Mizuho Securities analyst Anthony Crowdell downgraded CenterPoint Energy (NYSE: CNP) from Buy to Neutral with a price target of $33.00.

The analyst comments "CNP has been a top performing stock for 2023, ~2% vs UTY -5.5% YTD. It remains one of the more defensive stories in our coverage with minute regulatory risk, strong legislative backdrop, and robust fundamentals. CNP trades at a bestin-class 18.1x 2025 PE, a ~12% relative premium to the peer group, that in our view is largely reflective of the positive data points to the story. Because of this, we believe key elements of Texas legislature and incremental upside is largely priced in to the stock. We continue to appreciate the quality stories at CMS, DTE, and XEL. Downgrading to Neutral - PT remains unchanged at $33."

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 $30.36 yesterday.

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