Engie: Bryan Garnier still a buyer
(CercleFinance.com) - Bryan Garnier maintains its "buy" rating on the Engie stock, sticking with its fair value of 15.
5 euros, following an article in Les Echos which says that that the "PACT" law could pave the way for a possible flotation of the capital of its subsidiary GRTGaz.
"Assuming a c. 25% capital opening, this could imply a c. EUR2.5bn potential cash-in for Engie, on our first-take estimates," the broker said.
The broker also believes that Engie's sale of its 69% stake in Glow in Thailand, could lead to a slightly more aggressive external growth policy in the coming years, within the customer solutions business.
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, following an article in Les Echos which says that that the "PACT" law could pave the way for a possible flotation of the capital of its subsidiary GRTGaz.
"Assuming a c. 25% capital opening, this could imply a c. EUR2.5bn potential cash-in for Engie, on our first-take estimates," the broker said.
The broker also believes that Engie's sale of its 69% stake in Glow in Thailand, could lead to a slightly more aggressive external growth policy in the coming years, within the customer solutions business.
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.