Centrica: UBS remains positive, expects share buybacks

(CercleFinance.com) - UBS reaffirms its 'buy' recommendation on Centrica, as well as its target price of 170 pence, a target that offers 25% upside potential for the British energy group's shares, ahead of its half-yearly publication on July 25.


The broker expects to announce £250 million of share buybacks at that time, judging that 'Centrica has around 25% of market capitalization in excess cash and should generate at least as much over the next four years'.

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