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'.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.