E.On: Bryan Garnier initiates coverage with buy rating.
(CercleFinance.com) - Bryan Garnier has initiated its coverage of E.
ON with a "buy" rating and a fair value of 10 euros, considering that "the reimbursement of the nuclear fuel tax for almost EUR3bn has considerably brightened the skies for E.ON" for the group.
"The faster-than-expected reduction in the group's debt, the forthcoming disposal of Uniper, like the possible redeployment of some of the proceeds, are all encouraging factors for the short and medium terms," the broker adds.
On the contrary, Bryan Garnier has adopted a more cautious view on Innogy, " despite the company's highly regulated and contract-based nature, especially in view of its inherent difficulties in the UK and its still-limited free-float, and hence, liquidity."
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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 with a "buy" rating and a fair value of 10 euros, considering that "the reimbursement of the nuclear fuel tax for almost EUR3bn has considerably brightened the skies for E.ON" for the group.
"The faster-than-expected reduction in the group's debt, the forthcoming disposal of Uniper, like the possible redeployment of some of the proceeds, are all encouraging factors for the short and medium terms," the broker adds.
On the contrary, Bryan Garnier has adopted a more cautious view on Innogy, " despite the company's highly regulated and contract-based nature, especially in view of its inherent difficulties in the UK and its still-limited free-float, and hence, liquidity."
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.