Engie: Bryan Garnier confirms buy rating.
(CercleFinance.com) - Bryan, Garnier & Co.
welcomes Engie's announced disposals and has confirmed its buy rating on the share, for which it has a target price of 16 euros.
Engie is continuing to distance itself from the "thermal generation" of electricity and this morning announced the sale of the Australian coal-fired power station Loy Yang B (capacity of one gigawatt) to the Chow Tai Fook Enterprises group.
Bryan Garnier estimates that Engie could therefore reduce its net debt by 666 million euros, and that the sale will improve the group's profile. "Coal generation will now represent around 6% of Engie's power production worldwide vs. around 13% at the end of 2015,” the broker says in its report.
Taking into account this sale, Engie has announced over 13 billion euros in sales, which is over 87% of the target that management set itself.
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.
welcomes Engie's announced disposals and has confirmed its buy rating on the share, for which it has a target price of 16 euros.
Engie is continuing to distance itself from the "thermal generation" of electricity and this morning announced the sale of the Australian coal-fired power station Loy Yang B (capacity of one gigawatt) to the Chow Tai Fook Enterprises group.
Bryan Garnier estimates that Engie could therefore reduce its net debt by 666 million euros, and that the sale will improve the group's profile. "Coal generation will now represent around 6% of Engie's power production worldwide vs. around 13% at the end of 2015,” the broker says in its report.
Taking into account this sale, Engie has announced over 13 billion euros in sales, which is over 87% of the target that management set itself.
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.