1656 GMT - SSE shares look more attractive than they were, RBC Capital Markets says, upgrading the Scottish power generator to outperform from sector perform and its price target to 2,050 pence from 1825p. "SSE, like much of the UK utility space, has been buffeted by macro-economic concerns and risks around government intervention for much of 2022," RBC analyst John Musk says in a note. "We now have clarity on windfall taxes and think investors should now re-focus on SSE's attractive business mix and long-term growth prospects aligned to the energy transition. The net impact of higher power prices & inflation alongside windfall taxes result in our EPS forecasts up [about] 15-30% over the next three years." Shares closed 1.7% higher at 1724p. (philip.waller@wsj.com)

(END) Dow Jones Newswires

November 22, 2022 11:57 ET (16:57 GMT)

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