CenterPoint Energy reinstated with a Neutral at BofA

BofA analyst Ross Fowler reinstated coverage of CenterPoint Energy with a Neutral rating and $29 price target. The analyst believes the impacts from Hurricane Beryl will cap the near-term upside in the shares. While the shares have re-rated lower, BofA still lacks clarity into the eventual regulatory and policymaker response, the analyst tells investors in a research note. The firm believes ongoing investigations and the pending general rate case make a near-term multiple recovery unlikely for CenterPoint.