EDF: Jefferies a buyer ahead of 'Energy plan'
(CercleFinance.com) - This morning Jefferies confirmed its buy rating on the electro-nuclear group EDF before the French State's presentation of its medium-term energy plan.
The broker has a target price of 17.5 euros for the share.
Press reports (Montel and AFP) suggest that the long-awaited French “multi-annual energy program” (PPE) will be unveiled by President Macron on 27 November.
Overall, 2/3 scenarios seem supportive for EDF, Jefferies says, “targeting no major closures, beyond Fessenheim, before 2028.” The other scenario assumes closure of eight reactors by 2028 but “with some compensation for EDF.”
In short, Jefferies ends, saying, “Overall, 2/3 scenarios seem supportive for EDF, and even the accelerated phase-out option (from nuclear energy) appears to have some downside protection”.
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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.
The broker has a target price of 17.5 euros for the share.
Press reports (Montel and AFP) suggest that the long-awaited French “multi-annual energy program” (PPE) will be unveiled by President Macron on 27 November.
Overall, 2/3 scenarios seem supportive for EDF, Jefferies says, “targeting no major closures, beyond Fessenheim, before 2028.” The other scenario assumes closure of eight reactors by 2028 but “with some compensation for EDF.”
In short, Jefferies ends, saying, “Overall, 2/3 scenarios seem supportive for EDF, and even the accelerated phase-out option (from nuclear energy) appears to have some downside protection”.
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.