CenterPoint Energy price target lowered to $28 from $29 at Scotiabank

Scotiabank lowered the firm’s price target on CenterPoint Energy to $28 from $29 and keeps a Sector Perform rating on the shares. The firm believes utility stocks are “finally catching a bid,” likely due to a combination of falling Treasury yields, anticipated central bank rate cuts, rising concerns of slowing macroeconomic growth, and heightened geopolitical concerns in the U.S., the analyst tells investors. Additionally, fundamental growth outlooks are robust, the firm adds.