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Engie: UBS reiterates rating following results

(CercleFinance.com) - The energy group has published Q1 EBIT that is up 74% to 3.
5 billion euros, with EBITDA that is up 49% to 4.6 billion euros, on sales that are up 85% to 25.6 billion euros, in what it says are exceptional market conditions.

Following this publication, UBS reiterates its buy rating on the share with a target price of 17 euros.

"We share the key takeaways from this morning's call, including a helpful discussion of gas risks and potential development of the French biomethane sector," UBS says.

Engie is now targeting 2022 recurrent net income, group share of about 3.8 to 4.4 billion euros.


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