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Barclays cuts Centrica price target to 121 (123) pence - 'overweight'

And don't forget "decommissioning liabilities associated with the assets (approximately £800m) will also transfer to the buyers".
I was expecting a bounce after the fall on Thursday and Friday but this will really move Centrica price up.

I thought he was American?

Looks like I was wrong. Centrica will NOT have to pay a windfall tax.
Maybe other people sold thinking Centrica did.
Even more reason for a bounce back.

Having said that, now the bad news is out of the way and with FTSE100 entry around the corner, it should bounce back.

Because it is!!

I thought everyone knew the windfall tax was going to happen and it would have been priced in by now.

BBC News: "Sunak confirms a temporary windfall tax on oil and gas giants but says it will include a new investment allowance to incentivise the reinvestment of profits".
Sounds like potentially good news for PFC and the like in the coming months.

Broker reiteration with price target 210p.
And that's after the release of the AGM Statement.
Can't say I ready anything in there that was unexpected.

It was probably Dan taking dome some profit from the ones he picked up at 116p.
Well done Dan, now stop selling!!!

What have you done Dan? It's just dived into the red after your post lol.

Shorts down a little over the last few days and nice to see it trading above 250p.

What a drop. And just this morning Bloomberg were saying "Centrica Set to Storm Into FTSE 100 With UK in Energy Crisis":
https://www.bloomberg.com/news/articles/2022-05-24/centrica-set-to-storm-into-ftse-100-with-uk-in-energy-crisis

I'm sure a lot of stop losses got set off and helped pull the price down but I saw todays drop as a great opportunity to get into Centrica.

Wood was 151p about 6 weeks ago. Now nearly touching 250p.
Have to wonder what the shorts are thinking?

https://www.woodplc.com/investors/annual-general-meeting
Wednesday, 22 June 2022 at 2.00pm.

Only 5 weeks to go and should have an update on the asset sale by then too.

Thanks Sunshine69. Your post made my morning.

Nice to see it go into the green on a day so much of the market is so down.

The chancellor has threatened to hit energy companies with a one-off "windfall" tax if they don't invest enough in new projects.

https://www.bbc.co.uk/news/uk-politics-61420285

Sounds like good news down the line.

The next reshuffle is towards the end of June.
PFC joining the FTSE250 today is due to Ferguson moving it's listing from the UK (FTSE100) to the US.
Ferguson is replaced today in the FTSE100 by Harbour Energy and Harbour Energy is replaced in the FTSE250 by PFC.

When there is an asset sale likely to be signed in the next 7 or so weeks, I would be very nervous about selling too much.