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Berenberg takes a shine to SSE

11 April 2017 15:05

Berenberg upgraded utilities group SSE (LON:SSE), citing four reasons for investors to buy the stock.

The banks said: "To be convinced of a Buy case for SSE, investors have to believe that the group's sector-topping 6.5% yield and promise of RPIlinked dividend growth is sustainable; that debt ratios are manageable and will reduce; that political risk in the UK is over-played; and that the risk to power prices in the UK wholesale market is skewed to the upside.

"We believe all four."

Analysts upped their rating to buy from hold and their target to 1,650p per share from 1,550p.

At 3:04pm: (LON:SSE) SSE PLC share price was +14.5p at 1495.5p

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