I actually spent time talking to the analyst who wrote it and you are absolutely right.
I think there is little doubt that CNP are NOT going to go bust. This and a number of other analyst reports say the same. The question, which even this report raises, is in what form they will remain and to be fair, they have presented one scenario for survival.
In part, my posting was humorous. It's a long slog until Thursday for those of us with long positions on this one.
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I actually spent time talking to the analyst who wrote it and...
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