SSE Investors to Focus on UK Budget Despite Weak 1H Result in Renewables Sector -- Market Talk
Dow Jones
Nov 16, 2022
0838 GMT - Although energy company SSE's 1H numbers are in line with expectations, there was a weaker-than-anticipated result in the renewables segment although it was offset by a strong performance in thermal generation and gas storage, RBC Capital Markets analyst John Musk says in a note. "The weakness in renewables may prove a slight disappointment although we note full-year guidance has been fully reiterated and the near-term focus for investors will very much be on the U.K. budget to be announced tomorrow and details on the planned windfall tax for electricity generation," Musk says. RBC has a 1,825-pence target price on the stock. Shares are down 1.3% at 1,623 pence.(anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
November 16, 2022 03:38 ET (08:38 GMT)
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