RWE: Oddo reduces its target price

(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on RWE with a target price reduced from 57.
5 euros to 51 euros, the day after the German energy group published annual results that exceeded expectations and guidance.

Following this publication, the broker also points to management targets for 2023 that take into account changes in the market price, as well as a reassuring message on the portfolio in offshore wind.

However, the analyst says that from a value creation point of view, the increase in the broker's estimates in the flexibility business does not compensate for the value lost in the downward adjustment of its renewable estimates, the analyst nevertheless points out.


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