01:50 PM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $1 to $31, 19.1x our 2024 EPS estimate (unchanged at $1.62; 2025 estimate also unchanged at $1.74), a premium to peers based on stronger near-term growth potential, in our view. Our multiple is between CNP's three- and five-year forward averages of 19.7x and 18.2x, respectively. Q1 adjusted EPS of $0.55 vs. $0.50 was $0.02 above consensus, supported by updated electric and gas customer rates, offset by higher interest costs and operations and maintenance expense. Q1 capex was about $0.8B and CNP maintained its guidance of about $3.7B total during FY 24. A recent settlement in the CERC (Texas) natural gas rate case proposes a $5 million rate increase (vs. the $37.4 million original request), along with a 9.8% authorized ROE, near recent peer results. We expect a final order in the Houston Electric rate case during the second half of the year. Shares yield 2.6%, below the 3.4% multi-utilities median.