Uniper: Jefferies maintains 'underperform' rating
(CercleFinance.com) - Jefferies is maintaining its "underperform" rating on German energy group Uniper, with a target price of 20 euros.
In a note to clients, the broker said evidence points to a weak fourth-quarter, after a "disappointing" nine-month update.
Coupled with the suspension of the UK capacity market, this weakness suggests material downside risk to consensus, Jefferies wrote.
"With lower EU EBIT, we see Uniper increasingly reliant on Unipro for financial stability, which is worrying given Russian geo-political risks," it added.
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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 evidence points to a weak fourth-quarter, after a "disappointing" nine-month update.
Coupled with the suspension of the UK capacity market, this weakness suggests material downside risk to consensus, Jefferies wrote.
"With lower EU EBIT, we see Uniper increasingly reliant on Unipro for financial stability, which is worrying given Russian geo-political risks," it added.
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.