RWE: shares rise; broker upgrades to 'buy'
(CercleFinance.com) - RWE shares are up 1% on Thursday and are currently in the lead on Germany's DAX index, with a broker upgrade highlighting the stock's appeal.
Berenberg has raised its carbon price targets by 65% from 2018 to 2020 and consequently sees power prices up to 40% above the current forward curves by 2020.
The broker has hence upgraded RWE from "hold" to "buy" and has raised its price target from 18 euros to 22.5 euros.
In mid-morning trading, RWE shares, which have overperformed the DAX index by 23% so far this year, are up 1% at 20.3 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Berenberg has raised its carbon price targets by 65% from 2018 to 2020 and consequently sees power prices up to 40% above the current forward curves by 2020.
The broker has hence upgraded RWE from "hold" to "buy" and has raised its price target from 18 euros to 22.5 euros.
In mid-morning trading, RWE shares, which have overperformed the DAX index by 23% so far this year, are up 1% at 20.3 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.