Mizuho Securities Starts CenterPoint Energy (CNP) at Buy

Mizuho Securities analyst Anthony Crowdell initiates coverage on CenterPoint Energy (NYSE: CNP) with a Buy rating and a price target of $31.00.

The analyst comments "Our thesis is that the stock currently trades at a 9% P/E discount which we believe is compelling given the 5-7% EPS CAGR and adjusting for parent leverage and lower multiple businesses such as gas marketing (CES) and E&C VISCO). With growth expectations reset in the last two earnings reports, we believe CNP is adequately de-risked. Our price target of $31 assumes a group average multiple for utilities with midstream segments."

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 $28.44 yesterday.

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