Engie: Oddo maintains rating
(CercleFinance.com) - Oddo estimates that Engie's 9m 2019 results are slightly above expectations in terms of EBITDA and EBIT.
Analysts say that a significant share of the group's performance is due to the rebound in performance of its nuclear activities.
Following this announcement, Oddo confirms its Buy rating on the share, along with its target price at 16.0 euros (about 14% upside).
Analysts point out that the group's guidance for 2019 has been confirmed in terms of EBITDA and net income.
Guidance adjustments for segments mainly appear to be related to non-recurrent items, the broker says, adding that the share price correction yesterday seems excessive in a context where the valuation remains fairly modest relative to peers.
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