MARKET TALK: Credit Suisse Raises Centrica Price Target

26th Jul 2010 12:30

1130 GMT [Dow Jones] Credit Suisse raises Centrica (CNA.LN) price target to 340p from 320p ahead of the company's 1H results due July 28. Says Centrica is still its preferred UK utility and notes its strong strategic positioning. Believes that through having the Venture platform, cost-cutting in British Gas, and growth in British Gas Services, Centrica will be able to take adjusted EPS to around 30.3p in '12. Notes Centrica benefits from the cleanest of UK generation fleets and high exposure to the gas value chain, relative to peers. Keeps the stock at outperform. Shares -1.4% at 310p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 07:30 ET (11:30 GMT)