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RBC Capital Markets raises target price on Centrica
(Sharecast News) - Analysts at RBC Capital Markets updated its Centrica estimates ahead of the firm's 2025 year-end results, lowering its numbers but raising its target price. RBC Capital said it thinks some of the headwinds facing Centrica were "well acknowledged in the market" and said it would look for further details on medium-term guidance and a decision on Rough as potential positive catalysts in the coming months.
The Canadian bank also incorporated the remaining growth from Centrica's £4bn capex plan in its estimates for the first time, leading it to hike its target price on the stock from 200p to 215p.
"Our updated estimates reflect expected headwinds for 2025, lowering our estimates in retail and Centrica Energy. Going forward, we now incorporate an additional £0.9bn of growth capex for CNA into our assumptions and roll forward to 2026. We forecast an EPS CAGR to 2030 of ~10% and believe higher medium-target guidance and a resolution at Rough could present near-term positives," said RBC, which reiterated its 'outperform' rating on the stock.
Reporting by Iain Gilbert at Sharecast.com
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