Recently, shares of CenterPoint Energy, Inc (Symbol: CNP) traded at $29.78, surpassing the average analyst 12-month target price of $29.77. This could prompt analysts to either downgrade their valuations or raise their target prices based on the stock’s positive performance. Their responses may also hinge on recent developments in the company’s operations, which might justify an upward adjustment in target prices.
Analyst Insights on CNP Price Targets
CenterPoint Energy, Inc has 13 analysts contributing to its average price target. However, this average masks a range of opinions. While one analyst has set a target as low as $28.00, another projects a maximum price of $34.00. The standard deviation among these targets is $1.832, indicating varying forecasts.
Evaluating the Current Market Position
The significance of the average target lies in a collective assessment rather than relying solely on individual experts. With CNP’s price now exceeding the average target of $29.77/share, investors are encouraged to reevaluate the company’s standing. They must decide whether this price point is the beginning of a rise to even higher values or if it suggests that the stock’s current evaluation is nearing its limits.
| Recent CNP Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 3 | 3 | 4 | 7 |
| Buy ratings: | 1 | 1 | 1 | 2 |
| Hold ratings: | 10 | 9 | 8 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 2.67 | 2.64 | 2.5 | 2.03 |
The average rating ranges from 1 to 5, where 1 indicates a Strong Buy and 5 represents a Strong Sell. Data for this article was sourced from Zacks Investment Research via Quandl.com. For the latest insights, you can access Zacks’s research report on CNP—FREE.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
