CNP Price Prediction Next Week
Technical Analysis: Based on recent price action, CNP has formed a bullish trend with higher lows and higher highs over the past week. The stock closed at $27.29 on Friday, showing positive momentum.
News Impact:
- CenterPoint Energy announced a significant $5.75 billion Systemwide Resiliency Plan aimed at reducing storm-related outages. This strategic investment is expected to save customers approximately $50 million annually and improve service reliability.
- The company has received mixed analyst ratings, with a consensus "Moderate Buy" rating from 17 analysts. The mean price target is $32.97, suggesting potential upside.
Price Prediction for Next Week: Based on technical indicators and recent news:
Target Prices:
- Support: $27.00
- Resistance: $28.50
- Expected Trading Range: $27.20 - $28.20
The stock is likely to test the $28.00 level next week due to:
- Positive momentum from the resiliency plan announcement
- Strong technical support at $27.00
- Overall bullish sector sentiment
Trading Recommendation: BUY Entry Point: Current market price ($27.29) Initial Target: $28.00 (+2.6%) Stop Loss: $26.80 (-1.8%)
Rationale:
- Strong fundamental catalyst with the new resiliency plan
- Positive technical setup with higher lows
- Favorable risk-reward ratio with defined support level
CNP Similar Chart Price Prediction
The price of CNP is predicted to go up -12.69%, based on the high correlation periods with MYO. The similarity of these two price pattern on the periods is 94.93%.
CNP
MYO
Down: -12.69%Similarity: 94.93%
CNP Revenue Forecast
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CNP VS S&P500
CenterPoint is a pure-play regulated electric and gas utility with above-average long-term growth potential and constructive regulatory environments.
CenterPoint's capital investment plan supports 6%-8% annual earnings growth through 2030.
Houston Electric's service territory is located in one of the most economically vibrant metro areas in the country, with recent customer growth averaging 2% annually. Texas represents over 50% of the company's rate base.
CNP Analyst's Forecast
Paul Fremont
Ladenburg Thalmann
Strong Buy
2024-12-12
Price Target
$35
Upside
+8.12%
Ladenburg initiated coverage of CenterPoint Energy with a Buy rating and $34.50 price target.
Andrew Weisel
Scotiabank
Hold → Buy
2024-12-12
Price Target
$30 → $35
Upside
+9.68%
William Appicelli
UBS
Hold → Strong Buy
2024-12-03
Price Target
$31 → $37
Upside
+15.16%
