UPDATE: Jefferies Color On CNP Target Increase

Jefferies, which raised its PT on shares of CenterPoint Energy, Inc. (NYSE: CNP), is providing some color on the stock.

“We are increasing our 2012 EPS estimate $0.03 to $1.20 and our 2013 estimate $0.11 to $1.36,” Jefferies writes. “We are fine-tuning our 2011EPS estimate by $0.01 to $1.10. Our estimate is within company guidance of $1.04-1.14. We are initiating quarterly EPS estimates as follows: 1Q - $0.32; 2Q - $0.21; 3Q - $0.28, and 4Q - $0.29.”

CenterPoint Energy closed Tuesday at $18.65.