Jefferies upgrades British Gas owner Centrica to 'buy', shares spark

(Sharecast News) - Jefferies upgraded British Gas owner Centrica to 'buy' from 'hold' on Tuesday and lifted the price target to 200p from 190p. The bank said it forecasts earnings per share to grow at a 13% compound annual growth rate over 2026-2030, driven by 17% CAGR growth in visible EPS from retail and infrastructure.

"In our view, the market is overlooking the visibility and growth embedded in the business," it said.

"Upside from Centrica Energy and new infrastructure projects provides additional optionality beyond our base case."

At 1026 GMT, the shares were up 3.2% at 154.70p.