Deutsche Bank analyst James Brand lowered the firm’s price target on United Utilities (UUGRY) to 1,150 GBp from 1,200 GBp and keeps a Buy rating on the shares. Having called time on the rally in October, the firm is upgrading its market relative view back to positive for the sector. European utilities trade at an exceptional discount, with thematic risks overestimated, Deutsche tells investors in a research note on Friday.
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