Centrica downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Centrica (CPYYY) to Equal Weight from Overweight with a price target of 170 GBp, down from 175 GBp. The company is well positioned to “side-step” renewables and benefit from the increasing flex generation need but that further clarity is needed, the analyst tells investors in a research note. The firm cites limited upside to the price target for the downgrade.