SEE has received a price target lift following its results from Deutsche Bank, which suggests a new capex plan leaves the power supplier with a nicely balanced strategy.
Guidance for this year from SSE was well ahead of expectations, the German bank noted and though, subsequently, the shares have traded flat it argues the programme across power networks, renewables and zero carbon generation offers scope for “significant value creation”.
A number of further avenues for potential investment also offer promise, suggests the bank, notably low-carbon flexible generation.
“Buy” is the bank’s investment rating with a new price target of 2,150p, up from 2,050p.
Shares today were down 0.7% at 1,869p.