CenterPoint Energy (CNP) PT Lowered to $44 at Truist Securities

Truist Securities analyst Richard Sunderland lowered the price target on CenterPoint Energy (NYSE: CNP) to $44.00 (from $46.00) while maintaining a Buy rating.

The analyst commented: "CenterPoint Energy (CNP, Buy, $44 PT): Spotlight on potential 2H transmission study update; 2027 guidance set to round out 3Q updates, with TX and IN primed for EEI discussion. We expect CNP's much anticipated 2H transmission study will be the primary update on 3Q, outlining projects for the 2028-2032 timeframe to bridge from largely utilized excess system capacity in 2028 to 765kV in service dates starting in 2032. Given the multi-year window, pace/magnitude of TX load growth and economic development, prior company commentary on the study (at AGA, management described both a 5 and 10 year plan opportunity), and generally large project nature of transmission, we anticipate this update will add meaningful investment to CNP's capital plan. Sizing potential dollars is difficult (and further complicated by impacts across 5 versus 10 year plans), but we note that this sits as one key item within CNP's at least $10bn of upside capex. Overall, we see capex tailwinds as supportive of extending mid to high end directional guidance (currently for 2026-2028) within CNP’s 7-9% EPS growth range as this and other opportunities like IN data centers firm up. On the latter, company messaging should offer continued optimism for a 2026 announcement, which we see as a likely focus area for EEI amid unpacking the IN and TX backdrops more broadly given high profile attention on both states, politics, and specific issues (ERCOT batch zero for example, though with more to come post EEI with the Dec 10 report). Into the quarter, our 3Q26 and 2026 estimates are $0.50 and $1.91, respectively, versus CNP's 2026 guidance of $1.89-1.91. We expect no surprises in CNP’s 2027 guidance (typically initiated on 3Q), with our estimate of $2.08 representing ~9% YoY growth that will likely sit high within CNP’s initial range (with a midpoint presumably tied to 8% growth). "

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