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EDF: Oddo confirms rating; adjusts target price

(CercleFinance.com) - Oddo has confirmed its buy rating on the EDF stock, adjusting its target price to 12.
5 euros after the group announced its results.

Our 2019 estimates are now below the consensus, expecting EBITDA of 15.7 billion euros (vs. 16.4 billion euros), with net attributable profit of 2.3 billion euros (vs. 2.7 billion euros). However, the share remains attractive in light of its earnings growth potential, analysts explain.

After an annual publication that exceeds expectations, Oddo this morning announced the revision of EDF's earnings sequence over 2019-20.

Its analysts are downgrading their 2019 forecasts for nuclear power generation by 13 TWh to 393.5TWh, and think that the consensus is over-optimistic about this at present.

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