Engie: Bryan Garnier still a buyer; trims target price
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Engie stock, while trimming its fair value from 16.
5 euros to 16 euros, after the profit warning made by Suez last week.
The broker points out that the energy group still holds a stake of around 33% in Suez, which represents around 5% of Engie's recurrent net profit in its estimates.
Bryan Garnier has cut its EBITDA, EBIT and EPS forecasts by 0.5%, 0.9% and 1.7% respectively over the period 2018-2020 and notes that Engie's "sum of the parts" valuation includes the market value of Suez, which has plunged over recent days.
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.
5 euros to 16 euros, after the profit warning made by Suez last week.
The broker points out that the energy group still holds a stake of around 33% in Suez, which represents around 5% of Engie's recurrent net profit in its estimates.
Bryan Garnier has cut its EBITDA, EBIT and EPS forecasts by 0.5%, 0.9% and 1.7% respectively over the period 2018-2020 and notes that Engie's "sum of the parts" valuation includes the market value of Suez, which has plunged over recent days.
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.