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CenterPoint raises 2008 profit target
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HOUSTON - CenterPoint Energy Inc. on Wednesday increased its 2008 profit target, based on stronger-than-expected third-quarter results.
The Houston power transmitter and gas distributor now expects profit between $1.25 and $1.35 per share, up from prior estimates in the upper half of a $1.15 to $1.25 range.
On average, analysts expect profit of $1.18 per share, according to Thomson Reuters.
CenterPoint shares rose 73 cents, or 6 percent, to $12.39 in morning trading. In the past year, the stock has ranged from $8.48 to $18.63. The company delivers electricity and natural gas to more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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