Centrica downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Centrica to Sector Perform from Outperform with a price target of 145 GBp, up from 140 GBp. The analyst says challenges in the UK battery market, low multiples placed on flex generation assets and poor visibility on potential nuclear investment make the firm less positive on the company’s near term growth options.