Uniper: Barclays upgrades stock

(CercleFinance.com) - Barclays has upgraded its recommendation on Uniper shares to "equal weight" having raised its target price from 28 euros to 30 euros, in comments on the German energy group and its Finnish parent company Fortum.


Despite Fortum's share price having risen by around 28% since the end of October (compared with just +5% for the SX6P), the broker predicts that it will continue to outperform in the near term, "driven by positivity on Uniper (75.0% owned by Fortum)".

Having raised its target price for Uniper shares, Barclays has in turn edged up its target price for Fortum shares (from 24 euros to 24.5 euros, and reiterates its "overweight" recommendation on the latter.

The Uniper share is up over 2% at lunchtime on Tuesday.



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