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Deutsche Bank analyst James Brand lowered the firm’s price target on United Utilities (UUGRY) to 1,150 GBp from 1,200 GBp and keeps a Buy rating on the shares. Having called time on the rally in October, the firm is upgrading its market relative view back to positive for the sector. European utilities trade at an exceptional discount, with thematic risks overestimated, Deutsche tells investors in a research note on Friday.

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Read More on UUGRY:

• United Utilities price target lowered to 1,150 GBp from 1,175 GBp at JPMorgan

• United Utilities price target raised to 1,250 GBp from 1,200 GBp at Barclays

• United Utilities upgraded to Equal Weight from Underweight at Barclays

• United Utilities downgraded to Hold from Buy at Jefferies

• United Utilities (UUGRY) Announces Q1 Dividend: Save the Dates!