E.ON: Oddo BHF, reassured - still a buyer
(CercleFinance.com) - On Monday an analyst at Oddo BHF confirms his "buy" rating on the E.
ON share, appreciating both the group's cost savings plan and the "encouraging" restructuring of Npower.
All this adds to its recently published 9m results which are in line with (its) expectations and the consensus, with the group's 2019 guidance raised, driven by the contribution of Innogy.
E.ON will benefit from numerous options to create value. Based on its official synergies plan of between 600 million and 800 million euros, the valuation of the E.ON share remains between 10.10 euros and 10.60 euros. We believe that new value creation options will now open up, Oddo BHF says, which confirms its target price of 10.60 euros, meaning upside potential of 12%.
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