Goldman Sachs announced the June update for its"European Conviction List - Directors’ Cut" report today, showcasing the latest top Buy-rated stock additions for the region.For Centrica, a British energy and services company, analyst Ajay Patel argues there is a notable cash flow and return story at the stock that remains “underappreciated by the market.”
“As compared to FY 2022 these activities move up from being 54% of the overall group profits to being 80% by FY 2028,” the note writes. Moreover, the analyst observes that inventory destocking in wholesale and retail channels is bottoming out, with early signs of demand improvement in the Consumer segment.
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