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UK's Centrica rises after Jefferies upgrade to 'buy'

By Reuters News

** Shares of British Gas owner Centrica CNA.L rise nearly 3% to 154.2 pence

** Jefferies upgrades stock rating to "buy" from "hold"; raises PT to 200p from 190p, representing 33.4% upside to stock's last close

** Brokerage expects earnings growth to be driven by its retail and infrastructure businesses, with additional upside from company's new infrastructure projects

** "In our view, the market is overlooking the visibility and growth embedded in the business" - Jefferies

** Average stock rating of 15 analysts is "buy" with median PT of 205p - LSEG data

** Up to last close, shares down 11.5% YTD

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