CenterPoint Energy downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded CenterPoint Energy to Equal Weight from Overweight with a price target of $29, down from $30. Category 1 Hurricane Beryl, which hit CenterPoint’s Houston service territory on July 8, was much more damaging than expected and brought political and regulatory scrutiny of CenterPoint’s storm readiness, the analyst tells investors. The firm thinks the stock will struggle to regain its former premium with further hurricane risk ahead along with regulatory uncertainty, the analyst added.