MARKET TALK: Barclays Capital Starts Centrica At Underweight

22nd Jun 2010 07:48

0648 GMT [Dow Jones] Barclays Capital initiates coverage of Centrica (CNA.LN) at underweight, with 295p price target. Says Centrica has outperformed the utilities sector by around 25% over the last 12 months. Says the outperformance has been due to an improving outlook for the company's downstream business and a large increase in wholesale traded gas prices. However, BarCap notes UK and European spot gas prices are subject to a cap, which is now being approached, and Centrica's outperformance may stall as a result. Shares closed Monday at 303p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 02:48 ET (06:48 GMT)

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