Shares in Currys climbed 4% today after major investment bank RBC Capital Markets upgraded its assessment of the electrical retailer’s stock.

RBC upgraded Currys to ‘outperform’ from ‘sector perform’ and lifted the price target to 180p from 165p, pointing to an attractive valuation and the potential for further share gains.

Its shares are up 23% in the year to date.

The bank said Currys is transitioning from being a recovery play to a multi-year compounder with strong cash returns.