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Centrica has been downgraded by Barclays from a "strong-buy" to a "hold" rating. The company's stock opened at $7.57, with a 1-year low of $5.80 and a high of $7.76. Despite a current buy rating among analysts, Centrica is not listed among the top recommended stocks by leading analysts.
Barclays has downgraded Centrica's stock rating from Overweight to Equalweight, lowering the price target to £1.70 from £1.75 following the company's fiscal year 2024 results. The firm has adjusted its earnings per share forecasts for 2025 and 2026 and revised net cash estimates, projecting £1.8 billion by the end of 2025 and £1.0 billion by 2026. This reassessment indicates limited potential for stock appreciation, with only a 17% upside to the new target.
The week of February 17-21 will see significant earnings reports from major companies including BHP, InterContinental Hotels, BAE Systems, HSBC, and Rio Tinto. Key economic indicators such as the UK unemployment rate, wage growth, and various US metrics will also be released, influencing market sentiment. Notable shareholder meetings and trading updates are scheduled, alongside final results from firms like Centrica and Standard Chartered.
The LNG market is set to increase supply, particularly from the US, with a projected 15% rise in production. European utilities are expected to see a 3% EBITDA decrease in 2024, with a further 2% decline in 2025, while pure grid operators will benefit from a 6% EBITDA growth due to supportive regulatory frameworks and expanding asset bases.
Centrica Plc has stated that hydrogen storage could lead to a reduction in UK electricity bills, potentially saving households £35 annually. The company highlighted that large-scale hydrogen storage, like its Rough facility in the North Sea, could save the UK £1 billion per year by 2050.
Invesco Asset Management"s Martin Walker sees opportunity in UK blue chip stocks like BP Plc, Prudential Plc, and Centrica Plc, which are among the 25 worst performers this year. These companies are key holdings in the £1.5 billion Invesco UK Opportunities Fund, which has outperformed nearly 75% of its peers in 2024.
Centrica Plc has secured a 10-year agreement with Coterra Energy to purchase 100,000 million British thermal units of natural gas daily, starting in 2028. This deal aims to bolster the UK utility's supply amid increasing competition from Asia, with prices linked to European markets.
Centrica plc
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barclays downgrades centrica to hold as stock shows modest gains
12:32 21.03.2025
barclays downgrades centrica stock rating and lowers price target to 1.70
12:43 19.03.2025
key earnings reports and economic indicators to watch this week
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17:00 16.02.2025
european utilities face earnings decline amid changing power prices and investments
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01:00 22.01.2025
hydrogen storage could lower uk household energy bills by 35 pounds annually
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