MARKET TALK: JPMorgan Lifts Centrica Price Target

24th Jun 2010 07:17

0617 GMT [Dow Jones] JPMorgan Cazenove lifts Centrica (CNA.LN) price target to 385p from 365p. This takes account of the recent rally in UK gas prices, the changes to corporation tax announced in Tuesday's budget and the company's May 10 interim statement. The updated target price implies 29% upside from the current share price. JPMorgan expects the company's update on July 28 to be strong due to the cold winter in the UK boosting residential gas demand at the same time as wholesale gas prices remained subdued. Overweight rating. Shares closed Wednesday at 299p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 02:17 ET (06:17 GMT)

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