E.ON: Barclays raises target price to 9.3 euros.
(CercleFinance.com) - Barclays has raised its target price on German utility E.
ON to 9.3 euros after the German Constitutional Court yesterday retroactively struck down the nuclear fuel tax, ruling in favour of the company.
The broker now expects the German government to reimburse E.ON 2.85 billion euros in tax that it has paid over 2011-16, plus interest on this amount (which E.ON estimates at 450 million euros).
Barclays expects the government to pay back these funds to E.ON at some point in the second-half of 2017.
After rising 5.2% yesterday, E.ON shares are currently up 1.9 percent at 8.6 euros today.
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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.
ON to 9.3 euros after the German Constitutional Court yesterday retroactively struck down the nuclear fuel tax, ruling in favour of the company.
The broker now expects the German government to reimburse E.ON 2.85 billion euros in tax that it has paid over 2011-16, plus interest on this amount (which E.ON estimates at 450 million euros).
Barclays expects the government to pay back these funds to E.ON at some point in the second-half of 2017.
After rising 5.2% yesterday, E.ON shares are currently up 1.9 percent at 8.6 euros today.
Copyright (c) 2017 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.