Posts Tagged With 'Centrica Charge'
Bullish comments on its profitability, coupled with continuing speculation of a takeover bid, helped Centrica power its way up the blue-chip index last night.
The owner of British Gas put on 10.8p to finish at 344.6p as Credit Suisse reiterated its “outperform” recommendation on the company, raising its price target to 380p from 340p.
Describing the group as its “preferred UK energy utility”, the broker said a major driving force behind Centrica’s success was that although gas and oil prices remain high, residential margins for energy supply are likely to stay strong as well.
Centrica benefits from both of these gains, its analysts said, “yet we do not see this reflected in the stock given its recent underperformance”.
They pointed out that its share price has failed to enjoy the same rises as the top-tier and MSCI European Utilities indices.
Tags: Centrica, Centrica Charge