RWE: Oddo maintains buy rating after 9m results
(CercleFinance.com) - RWE yesterday published 9-month results in line with both Oddo's estimates and the consensus.
EBITDA was up 13% to 2,224 million euros, slightly above the consensus of 2,210 million euros (Oddo BHF estimated 2,191 million euros), the analyst noted.
Net income, group share for the period was in line with expectations at 762 million euros, compared with the consensus expectation of 765 million euros (737 million euros estimated by Oddo BHF).
The broker underlines that the group has confirmed its 2020 guidance at the top of the indicative range, with EBITDA of 2.7-3.0 billion euros, in line with its expectations at 2,925 million euros.
Oddo confirms its buy rating on the stock, along with a target price of 37.50 euros (current price: 35 euros).
It says that RWE's successful transition to renewable energy remains an attractive factor for the share.
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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.
EBITDA was up 13% to 2,224 million euros, slightly above the consensus of 2,210 million euros (Oddo BHF estimated 2,191 million euros), the analyst noted.
Net income, group share for the period was in line with expectations at 762 million euros, compared with the consensus expectation of 765 million euros (737 million euros estimated by Oddo BHF).
The broker underlines that the group has confirmed its 2020 guidance at the top of the indicative range, with EBITDA of 2.7-3.0 billion euros, in line with its expectations at 2,925 million euros.
Oddo confirms its buy rating on the stock, along with a target price of 37.50 euros (current price: 35 euros).
It says that RWE's successful transition to renewable energy remains an attractive factor for the share.
Copyright (c) 2020 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.