Macquarie Comments On 'Overblown' Concerns Regarding CenterPoint's Tentative Bid For Cleco
Macquarie analyst Andrew Weisel commented on M&A opportunities for Cleco (NYSE: CNL) following management's confirmation of indications of interest.
Weisel noted that investors concerns on CenterPoint Energy (NYSE: CNP) bid are "overblown."
Weisel commented that CenterPoint has a "disciplined" management, looking for deals that would benefit the company and be accretive within the first year.
Macquarie sees long-term dividend growth for CenterPoint of approximately 10 percent per year through 2018.
Weisel reiterated an Outperform rating and $27.00 price target on CenterPoint Energy.
Shares of CenterPoint Energy closed at $24.58 on Friday.
Latest Ratings for CNL
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Dec 2019 | BMO Capital | Downgrades | Outperform | Market Perform |
| Dec 2019 | BMO Capital | Maintains | Outperform | |
| Dec 2019 | TD Securities | Downgrades | Speculative Buy | Tender |
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