Mizuho analyst Anthony Crowdell downgraded CenterPoint Energy to Neutral from Buy with an unchanged price target of $33. CenterPoint has been a top performing stock for 2023 and remains one of the more defensive stories in the sector with minute regulatory risk, strong legislative backdrop, and robust fundamentals, the analyst tells investors in a research note. However, the firm believes the key elements of Texas legislature and incremental upside is largely priced in to the stock. It cites valuation for the downgrade.
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