Jefferies starts coverage on CenterPoint Energy with 'buy' rating

** Brokerage Jefferies starts coverage on utility CenterPoint Energy CNP with "buy" rating and $42 PT, citing a "compelling re-rating story"

** PT represents a 14% upside to the stock's last close

** Brokerage expects strong earnings growth, driven by CNP's history of "meeting or exceeding its earnings guidance in recent years"

** Says co's regulatory clarity has improved, with "four constructive rate case settlements" and a successful mobile gen asset transfer, giving it "more confidence" in CNP's outlook

** Houston-area electric demand expected to grow ~50% by 2031, driven by energy refining, commercial expansion, and logistics - brokerage

** Says co is "on track to return to the 14%+ target" for its ability to generate cash flow relative to its debt levels

** As of last close, CNP up ~16% YTD