Centrica: Jefferies raises its recommendation

(CercleFinance.com) - Jefferies raises its recommendation on Centrica from 'hold' to 'buy', with the target price maintained at 150 pence, reassessing the risk/reward profile of the British energy group's shares after a 10% decline since the start of the year.


'We believe that management is building a consistent track record of achievement in the downstream retail and optimization segments that underpin the bulk of our share valuation', the broker believes.

We also now include some upside potential from future investments, reflecting the increased visibility that has emerged over the past six months', he continues in his summary note.

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