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Engie: Bryan Garnier still a buyer.

(CercleFinance.com) - In a report issued on Wednesday, Bryan Garnier confirmed its "buy" rating on the Engie stock, along with its target price of 15.
5 euros.

The broker reacted to Engie's announcement, made after trading yesterday, of its signature of an agreement with Energy Capital Partners (ECP) for the sale of its 75% stake in three British electricity power plants.

Bryan Garnier believes that this deal reflects Engie's new strategy in the UK, with its focus now on renewable energy - as recently witnessed by it taking a 23% stake in the Morray offshore wind farm, in addition to customer solutions. The broker estimates that this transaction will impact Ebitda by between 35 million euros and 45 million euros, representing a total enterprise value of 205 million pounds Sterling, or approximately 232 million euros.

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