Engie: Bryan Garnier raises target price.
(CercleFinance.com) - Bryan Garnier maintains its "buy" rating on the Engie stock and has raised its fair value for the share from 15 euros to 15.
5 euros, deeming that the energy group" ahead of schedule on its transformation plan while underlying growth on strategic businesses appears resilient".
After its interim results, the broker has integrated the deconsolidation of exploration-production activities into its model, along with recent FX factors and the latest consensus estimates for Engie's listed entities.
"Our estimates for Engie's recurring net income from continuing operations have been increased by c. 2% on average over 2017e-2019e," the broker continues.
Bryan Garnier points out that in the coming weeks, the share may bear the weight of a possible decision by the French State to sell part of its holding, which could offer investors a good entry point.
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.
5 euros, deeming that the energy group" ahead of schedule on its transformation plan while underlying growth on strategic businesses appears resilient".
After its interim results, the broker has integrated the deconsolidation of exploration-production activities into its model, along with recent FX factors and the latest consensus estimates for Engie's listed entities.
"Our estimates for Engie's recurring net income from continuing operations have been increased by c. 2% on average over 2017e-2019e," the broker continues.
Bryan Garnier points out that in the coming weeks, the share may bear the weight of a possible decision by the French State to sell part of its holding, which could offer investors a good entry point.
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.