EDF: Bryan Garnier still 'neutral', but raises target price.
(CercleFinance.com) - While maintaining its "neutral" recommendation on EDF, Bryan Garnier has raised its fair value for the stock from 8 euros to 8.
9 euros, following a sharp rise in its share price over the past few days, on the back of initiatives expected in the carbon market.
“The implementation of a carbon floor price would clearly be positive for EDF which is very sensitive to power prices through its French nuclear and hydro assets,” said the broker.
Bryan Garnier maintains its "neutral" rating on the stock of the electricity giant, considering that "there are too many uncertainties on too many topics," and that its valuation, which is slightly discounted relative to its sector, seems justified.
Copyright (c) 2017 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.
9 euros, following a sharp rise in its share price over the past few days, on the back of initiatives expected in the carbon market.
“The implementation of a carbon floor price would clearly be positive for EDF which is very sensitive to power prices through its French nuclear and hydro assets,” said the broker.
Bryan Garnier maintains its "neutral" rating on the stock of the electricity giant, considering that "there are too many uncertainties on too many topics," and that its valuation, which is slightly discounted relative to its sector, seems justified.
Copyright (c) 2017 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.