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NEW YORK - An analyst boosted her estimates on CenterPoint Energy Inc. Thursday, the day after the power transmitter and gas distributor posted better-than-expected third-quarter profit and raised its full-year outlook.
| CNP | 12.72 |  -0.19 |
Jefferies & Co. analyst Debra E. Bromberg raised her fourth-quarter earnings estimate to 26 cents per share from 33 cents per share, and her 2008 earnings estimate to $1.31 per share from $1.23 per share
Analysts polled by Thomson Reuters expect, on average, fourth-quarter earnings of 36 cents per share and 2008 earnings of $1.18 per share.
The company posted third-quarter earnings of 27 cents per share on Wednesday, beating the 21 cents per share analysts expected.
For 2008, the company expects to earn between $1.25 and $1.35.
Bromberg rates the Houston-based company "Buy" with a $14.50 price target, implying she expects the stock to jump 20 percent over Wednesday's $12.12 close.
"We find CenterPoint ... to be undervalued," she said in a note to clients.
Shares fell 28 cents, or 2.1 percent, to $11.84 in morning trading. The stock has traded between $8.48 and $18.63 in the past 52 weeks.
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