CenterPoint Energy (CNP) PT Raised to $48 at Wolfe Research

Wolfe Research analyst Steve Fleishman raised the price target on CenterPoint Energy (NYSE: CNP) to $48.00 (from $47.00) while maintaining a Outperform rating.

The analyst comments "Growing optimism on IN data center. CNP is increasingly confident to secure a large load customer as it makes considerable progress in its conversations. CNP estimates that this initial phase could enable $250M in savings to IN customers over 15 years. MISO transmission investments and converting CNP's CT to a CCGT could unlock 1.5 GWs of incremental capacity. This could drive $1B more capex over 2027-29 and provide additional earnings from sales. CNP is evaluating the opportunity to support future large load beyond the 1.5 GWs. If this additional growth materializes, there would be further upside to capex & customer savings. Raising 2027-29E and PT to $48; reiterate OP. We raise our 2027-29E by $0.01 each to reflect further load acceleration at CEHE. Stay OP as we remain bullish on TX (70% of CNP's portfolio) growth tailwinds and $10B+ of capex upsides. CNP is on the Wolfe Alpha List as our favorite core low-risk, high-growth utility."

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