Naturgy Energy upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Naturgy Energy to Equal Weight from Underweight with a price target of EUR 25.10, up from EUR 24.50. The firm revisited the valuation for the company’s flexible generation. Naturgy shows one of the highest sensitivities to increases in combined cycle power plants load factor, the analyst tells investors in a research note. However, corporate governance uncertainties will continue around the stock, which prevents Barclays being more positive on the stock, the analyst adds.