Engie: Oddo confirms rating after results
(CercleFinance.com) - Oddo believes that this morning Engie published Q1 2022 results that exceed estimates.
It notes that EBITDA is up 51% at 4,643 million euros, which exceeds the broker's expectations (4,169 million euros). EBIT was up 76% in organic terms at 3,532 million euros, again above Oddo BHF's estimate of 3,019 million euros, it said.
The broker points out that net debt has increased from 25.3 billion euros in 2021 to 27.3 billion euros in Q1 2022.
Engie has revised its guidance for 2022, expecting average EBITDA that is 1.3 billion euros higher than before at 11.7-12.7 billion euros, from 10.7-11.1 billion euros previously (Oddo BHF at 11,075 million euros and the consensus of 11,132 million euros), Oddo says.
Oddo confirms its Outperform rating on the stock with a target price of 18 euros.
Engie shares are indeed the talk of the town today, steaming ahead over 5% this afternoon.
Copyright (c) 2022 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.
It notes that EBITDA is up 51% at 4,643 million euros, which exceeds the broker's expectations (4,169 million euros). EBIT was up 76% in organic terms at 3,532 million euros, again above Oddo BHF's estimate of 3,019 million euros, it said.
The broker points out that net debt has increased from 25.3 billion euros in 2021 to 27.3 billion euros in Q1 2022.
Engie has revised its guidance for 2022, expecting average EBITDA that is 1.3 billion euros higher than before at 11.7-12.7 billion euros, from 10.7-11.1 billion euros previously (Oddo BHF at 11,075 million euros and the consensus of 11,132 million euros), Oddo says.
Oddo confirms its Outperform rating on the stock with a target price of 18 euros.
Engie shares are indeed the talk of the town today, steaming ahead over 5% this afternoon.
Copyright (c) 2022 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.