Oppenheimer Initiates CenterPoint At Outperform

Oppenheimer has published a research report on CenterPoint Energy CNP and has initiated the company at Outperform. In the report, Oppenheimer writes "We are initiating coverage of CenterPoint Energy, Inc. with an Outperform rating and $18 PT. We believe that CenterPoint has a better growth profile than a typical utility as its electric and gas utilities provide steady growth while its natural gas assets, interstate pipelines and field services assets create selective, higher growth opportunities. Although we believe the depressed natural gas price environment will continue in the near term, we believe that CenterPoint can limit its downside risk by managing its risk profile. At the same time, we believe that CenterPoint is preserving its growth potential once higher gas prices returns." CenterPoint Energy closed yesterday at $15.63.