TMCnet News
Upgrade Alert for Centerpoint Energy (CNP)Feb 03, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Centerpoint Energy (NYSE:CNP) was upgraded from Neutral to Buy at Citigroup today. The stock closed yesterday at $18.58 on volume of 2.6 million shares, below average daily volume of 3.5 million. CenterPoint Energy, Inc. is a public utility holding company. The Company, through its subsidiaries, conducts activities in electricity transmission and distribution, natural gas distribution and sales, interstate pipeline and gathering operations, and power generation. In the past 52 weeks, Centerpoint Energy share prices have been bracketed by a low of $15.09 and a high of $21.47 and closed yesterday at $18.58, 23% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.36% lower over the past week, respectively. Potential upside of 15.7% exists for Centerpoint Energy, based on a current level of $18.58 and analysts' average consensus price target of $21.50. The stock should run into initial resistance at its 50-day moving average (MA) of $19.28 and subsequent resistance at its 200-day MA of $19.38. SmarTrend is monitoring the recent change of momentum in Centerpoint Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Centerpoint Energy in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |