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Engie: Oddo BHF still a buyer after CPN decision

(CercleFinance.com) - This Friday an analyst at Oddo BHF confirms a "buy" rating on the Engie share, after a verdict of the Nuclear Supply Commission (CPN) that is in line with Engie's expectations.

Yesterday, Synatom, a subsidiary of Electrabel and Engie, was informed about the decision taken by the Nuclear Provisions Commission (CPN) about the reassessment of provisions for the dismantling of Belgian nuclear power plants and the management of the end of the nuclear fuel cycle (...) The CPN's decision includes a reduction in discount rates, reflecting the environment of low short-term interest rates and taking into account differentiated disbursement horizons between dismantling downstream cyclical costs, the broker explains, for which Engie's formation of a fund of dedicated assets by 2025 would have no impact on the valuation.

Noting a decrease in uncertainty around this question, after the CPN's decision, Oddo BHF confirms its target price of 16 euros for the share, which represents upside potential of 10%.

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