Endesa: Credit Suisse double upgrades stock
(CercleFinance.com) - Credit Suisse has said that it has radically changed its view of Spain's Endesa, upgrading the share directly from "underperform" to "outperform", while raising its target price to 24.
6 euros (vs. 22.4 euros - current price: 21.8 euros).
The broker justifies its stance, highlighting the "significant change in outlook", which has led it to increase its EPS estimates by 10% from 2024 and even 14% by 2030.
According to Credit Suisse, Endesa's appeal lies in its ability to benefit from both growth of renewable energies, based on green hydrogen and from investments in electricity grids.
Moreover, political support for the sector could reduce the company's risk profile, the analyst points out.
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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 (vs. 22.4 euros - current price: 21.8 euros).
The broker justifies its stance, highlighting the "significant change in outlook", which has led it to increase its EPS estimates by 10% from 2024 and even 14% by 2030.
According to Credit Suisse, Endesa's appeal lies in its ability to benefit from both growth of renewable energies, based on green hydrogen and from investments in electricity grids.
Moreover, political support for the sector could reduce the company's risk profile, the analyst points out.
Copyright (c) 2021 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.