UBS has upgraded its recommendation on Centrica from 'neutral' to 'buy', with an adjusted target price of 165 to 170 pence, a new target which offers a 30% upside potential for the British energy group's shares.

'We believe that the targets for Centrica Energy are not demanding. A new nuclear build could be strategically and commercially justified in a RAB (regulated asset base) structure', the broker believes.

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