CenterPoint Energy price target raised to $31 from $29 at KeyBanc

KeyBanc raised the firm’s price target on CenterPoint Energy to $31 from $29 and keeps an Overweight rating on the shares. The firm regards CenterPoint as a premium utility with positive demographic and load trends in Houston that support one of the country’s fastest growing economies. A constructive legislative session in Texas provides several positives to reduce regulatory lag, including the ability to file two DCRFs per year and a resilience spending rider, KeyBanc says. Given the trends and the company’s recently raised $43.9B capital plan through 2030, the firm believes that CenterPoint is well positioned to deliver on its 6%-8% long-term growth rate with opportunity for upside, justifying a premium to the sector.