Jefferies downgraded British Gas owner Centrica on Monday to ‘hold’ from ‘buy’ as it pointed to a more balanced risk-reward on the stock at current trading.
Centrica
02 March 2026 10:43:06
Source: Sharecast
The broker noted that Centrica shares are up more than 10% year-to-date and trading at 10x Jefferies’ estimated 2030 price-to-earnings.
"In our view, the bull case for Centrica requires more visibility on post-2028 growth drivers," it said.
"We see a lack of near-term catalysts along with near-term negative earnings revisions as overhangs for the stock, and we see better set-ups elsewhere in the Euro Utils sector through grids/power demand exposure.
"With a more balanced risk-reward on the stock at current trading, we downgrade to hold."
Jefferies lifted its price target on the stock to 210p from 200p.
At 1040 GMT, Centrica shares were down 1.6% at 196.05p in a sharply lower London market.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
