RWE: Berenberg raises target price to 26 euros
(CercleFinance.com) - Berenberg has raised its target price for the RWE share from 24 euros to 26 euros, pointing to the valuation of the German energy giant's stock, along with the group's move into renewables.
In a note to clients, the broker said RWE's 20% discount relative to the utilities sector is "unjustified."
According to Berenberg, the group's valuation "simply fails to reflect the merits of its approaching transformation into one of the world's leading and growing renewables businesses."
Berenberg has a "buy" rating on the shares.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker said RWE's 20% discount relative to the utilities sector is "unjustified."
According to Berenberg, the group's valuation "simply fails to reflect the merits of its approaching transformation into one of the world's leading and growing renewables businesses."
Berenberg has a "buy" rating on the shares.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.