Uniper: UBS upgrades rating on stock
(CercleFinance.com) - UBS has upgraded its rating on the Uniper stock from "neutral" to "buy," upping its target price from 22.
6 euros to 30 euros, after a review of four scenarios related to Fortum's current offer on the German energy group.
The broker concluded that Fortum has a good chance of taking control of Uniper this year and that "after all Uniper shareholders have a good chance to realise a takeover premium".
"On the other hand, if Fortum does not achieve control in 2018, we believe there are material synergies available and the chance of a second bid in 2019 should support the shares," the broker adds.
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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.
6 euros to 30 euros, after a review of four scenarios related to Fortum's current offer on the German energy group.
The broker concluded that Fortum has a good chance of taking control of Uniper this year and that "after all Uniper shareholders have a good chance to realise a takeover premium".
"On the other hand, if Fortum does not achieve control in 2018, we believe there are material synergies available and the chance of a second bid in 2019 should support the shares," the broker adds.
Copyright (c) 2018 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.