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RWE: Société Générale upgrades to buy.

(CercleFinance.com) - Société Générale (SG) has become optimistic about the share of the German energy company RWE, with its analysts upgrading their "hold" rating to "buy".
Alongside this upgrade, the broker has raised its 12-month target price from 21.6 euros to 22.9 euros.

According to SG, "generation assets (thermal power, for example coal, ed.) (are) substantially undervalued" by the market. Since early November, the RWE share has fallen by about 15%, in the wake of the recent decline in the stock of its 77%-subsidiary Innogy (networks, renewable energy, services) and doubts about the future of coal.

In addition, SG adds, "Moreover, RWE has the potential has the potential for substantial surprises on the dividend" over the medium term... In short, "we believe the current price offers an attractive entry point," SG adds.

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