Analyst Actions: CenterPoint Energy PT Edges Up, But Ests Cut at Credit Suisse; Shares Rise 1%
Credit Suisse has lowered earnings estimates for CenterPoint Energy, Inc. ( CNP ), while raising the price target on the stock to $23 from $22 a share.
"CenterPoint Energy ( CNP ) reported 4Q12 EPS ex items of $0.28, which topped CS and Street estimates of $0.21/share," said Credit Suisse. "Strong results across the board powered the beat with Electric Transmission and Distribution, and Natural Gas Distribution, doing especially well due in part to successful cost-cutting efforts which resulted in improved margins."
The firm is trimming its FY2013 EPS outlook by $0.02 to $1.28 on higher interest and tax assumptions. It also lowered its 2014 EPS estimate to $1.37 from $1.38.
Shares of CNP are up 0.75% to $21.39 in mid-day trade, moving near the top of its 52-week range of $18.59 - $21.81.