EDF: Oddo raises price target
(CercleFinance.com) - While Oddo enquires as to a possible reshuffle of EDF's subsidiaries, the website Reporterre says that the Directorate-General for Competition (DGCOMP) is asking EDF for greater concessions in terms of independence.
According to Oddo, these requirements could lead to the creation of an EDF holding company for the various entities in the group: Blue (nuclear), Green (renewables and supply) and Azur (hydraulic).
The analyst considers this scenario not to be insurmountable, and thinks that the probability of being able to improve these proposals and gain stakeholder support is likely, maintaining its 'buy' recommendation and increasing its target price to 13 euros, from 11.5 euros previously.
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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.
According to Oddo, these requirements could lead to the creation of an EDF holding company for the various entities in the group: Blue (nuclear), Green (renewables and supply) and Azur (hydraulic).
The analyst considers this scenario not to be insurmountable, and thinks that the probability of being able to improve these proposals and gain stakeholder support is likely, maintaining its 'buy' recommendation and increasing its target price to 13 euros, from 11.5 euros previously.
Copyright (c) 2020 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.