Utilities Sector Sees Upgrade Amid Exceptional Discount
Deutsche Bank analyst James Brand has revised the price target for United Utilities (UUGRY) to 1,150 GBp, down from 1,200 GBp, while maintaining a Buy rating on the shares. This move comes after the firm correctly predicted the end of the rally in October.
A Shift in Market Relative View
Deutsche Bank is now upgrading its market relative view to positive for the sector, citing that European utilities are trading at an exceptional discount. The firm believes that thematic risks have been overestimated, according to a research note released on Friday.
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United Utilities in Focus
The utility company has seen a flurry of activity from analysts recently. JPMorgan lowered its price target to 1,150 GBp from 1,175 GBp, while Barclays raised its target to 1,250 GBp from 1,200 GBp. The company has also received rating changes from Jefferies and Barclays, with the former downgrading it to Hold from Buy and the latter upgrading it to Equal Weight from Underweight.
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