Engie: Oddo confirms rating after roadshow
(CercleFinance.com) - Following the roadshow that Oddo organised with Engie's IR teams, analysts believe that two subjects are still worrying investors: 1/ the future of nuclear power in Belgium, 2/ external growth scenarios.
Oddo is maintaining its estimates and target price unchanged at 15 euros. Analysts confirm their buy rating on the stock.
Oddo says that Engie's current valuation seems to underestimate the group's sensitivity to the rebound in energy prices in Europe and conversely continues to suffer from uncertainties around nuclear and M&A.
Regardless of strategic decisions, the group will benefit from a sustained rebound in its results over the period 2018/2021 (average growth estimated at 11.1% p.a.), which will contribute to the revaluation of highly discounted multiples (around 10% vs. sector), the broker adds.
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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.
Oddo is maintaining its estimates and target price unchanged at 15 euros. Analysts confirm their buy rating on the stock.
Oddo says that Engie's current valuation seems to underestimate the group's sensitivity to the rebound in energy prices in Europe and conversely continues to suffer from uncertainties around nuclear and M&A.
Regardless of strategic decisions, the group will benefit from a sustained rebound in its results over the period 2018/2021 (average growth estimated at 11.1% p.a.), which will contribute to the revaluation of highly discounted multiples (around 10% vs. sector), the broker adds.
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.