Berenberg Bank Forecasts Strong Price Appreciation for Centrica (LON:CNA) Stock

Key Points

• Berenberg Bank has raised its price target for Centrica (LON:CNA) from GBX 155 to GBX 190, indicating a potential upside of 17.87% from the current stock price.
• The stock has received a majority of positive ratings, with four analysts recommending a buy and one a hold, leading to an average price target of GBX 180.80.
• Centrica's shares have increased by 2.7%, with the stock currently trading at GBX 161.20, navigating between a 12-month low of GBX 112.99 and a high of GBX 169.65.

Centrica (LON:CNA - Free Report) had its target price upped by Berenberg Bank from GBX 155 to GBX 190 in a report released on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the integrated energy company's stock.

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. upped their target price on Centrica from GBX 177 to GBX 179 and gave the company a "neutral" rating in a report on Friday, August 15th. Royal Bank Of Canada upped their target price on Centrica from GBX 175 to GBX 200 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, Citigroup reiterated a "buy" rating and issued a GBX 185 price objective on shares of Centrica in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of GBX 180.80.

Centrica Trading Up 3.6%

Shares of Centrica stock traded up GBX 5.85 during midday trading on Thursday, reaching GBX 169.20. 23,172,855 shares of the company's stock traded hands, compared to its average volume of 25,143,434. The company has a debt-to-equity ratio of 66.48, a quick ratio of 0.40 and a current ratio of 1.77. The company has a market cap of £7.96 billion, a PE ratio of -3,678.26, a price-to-earnings-growth ratio of 0.45 and a beta of 1.08. The stock has a 50 day moving average of GBX 160.83 and a 200-day moving average of GBX 156.11. Centrica has a 12 month low of GBX 112.99 and a 12 month high of GBX 170.20.

Centrica (LON:CNA - Get Free Report) last announced its earnings results on Thursday, July 24th. The integrated energy company reported GBX 7 EPS for the quarter. Centrica had a return on equity of 25.16% and a net margin of 5.39%.

Insider Transactions at Centrica

In other news, insider Philippe Boisseau purchased 1,028 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was acquired at an average cost of GBX 164 per share, for a total transaction of £1,685.92. Also, insider Chris O’Shea sold 770,946 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of GBX 168, for a total value of £1,295,189.28. Over the last 90 days, insiders have acquired 3,645 shares of company stock valued at $595,896. Corporate insiders own 0.34% of the company's stock.

Centrica Company Profile

Centrica is energising a greener, fairer future for our colleagues, customers and communities. Our integrated business operates across the energy value chain, with over ten million Retail customers, leading brands such as British Gas and Bord Gáis Energy, and the UK's largest energy services workforce.