SSE shares held up well on Thursday after the energy group confirmed its earnings targets, with broker Jefferies calling the update in line with expectations.
The stock slipped 1.2% to 2,461p, a smaller fall than the 1.6% drop in the FTSE 100.
That resilience came despite a sharp sell-off in government bonds, which typically weighs on utilities because investors value them partly for their steady income.
Jefferies kept its 'buy' rating and 3,060p price target, which sits around 24% above the current share price.
Guidance in line
SSE reiterated guidance for adjusted earnings per share of 168p to 193p for the year to March 2027.
Jefferies analyst Ahmed Farman said the midpoint of that range matched City consensus.
The company also stood by its target of 225p to 250p for 2029/30, though Farman noted the midpoint sits about 2% below market forecasts.
First-half earnings per share are expected at 64p to 68p.
SSE said this reflected less seasonal earnings, as regulated networks account for a growing share of profit.
Investment on track
Investment in networks is running about 70% higher than a year ago, driven mainly by transmission, the high-voltage grid that carries power across the country.
Renewable generation is expected to be around 20% higher, helped by better weather and new capacity.
Farman said SSE's £33 billion investment plan was progressing as expected.
He highlighted the Dogger Bank offshore wind farm, where more than 47 turbines are now installed for the Dogger Bank B phase, up from 30 at the end of the first quarter.
SSE cautioned that full-year results still depend on weather, market conditions and plant availability, with the winter months still to come.
Audited half-year results are due on 18 November.
