EDF: Oddo reduces TP on lower production
(CercleFinance.com) - Oddo confirms its "neutral" rating on EDF shares, trimming its target price for them to 8.
8 euros, compared with 9 euros previously.
As the EDF group continues its inspection program in the nuclear industry, with repairs to pipe sections affected by stress corrosion, twelve reactors are currently shut down.
EDF has thus adjusted its nuclear production estimate for 2022 to 280-300 TWh from 295-315 TWh. On the other hand, the nuclear production estimate for 2023 remains unchanged at this stage (300-330 TWh).
Oddo has therefore adjusted its estimate of EDF's EBITDA for this year, now expecting -1.8 billion euros, vs. 1 billion euros previously. Analysts also say that they have not changed their estimates for 2023, although there is an increasing risk of a downward revision.
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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.
8 euros, compared with 9 euros previously.
As the EDF group continues its inspection program in the nuclear industry, with repairs to pipe sections affected by stress corrosion, twelve reactors are currently shut down.
EDF has thus adjusted its nuclear production estimate for 2022 to 280-300 TWh from 295-315 TWh. On the other hand, the nuclear production estimate for 2023 remains unchanged at this stage (300-330 TWh).
Oddo has therefore adjusted its estimate of EDF's EBITDA for this year, now expecting -1.8 billion euros, vs. 1 billion euros previously. Analysts also say that they have not changed their estimates for 2023, although there is an increasing risk of a downward revision.
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.