Engie: Oddo nudges up target price

(CercleFinance.com) - Oddo maintains its outperform rating on Engie shares, having increased its target price for them from 17 euros to 17.
5 euros.

Yesterday Engie published 9m results that exceeded analysts' estimates, Oddo says, with EBITDA up 45% organically to 10,665 million euros, well above the 8,450 million euros expected.

9m performance was mainly driven by significant growth in all segments, except Energy Solutions and Network, which remained stable at 177 million euros (-2%) and 1,765 million euros (-2%).

In this context, Engie has raised its guidance for 2022: EBITDA is now expected to be 13.2-14.2 billion euros, vs. 11.7-12.7 billion euros previously, EBIT shd be 8.5-9.5 billion euros, vs. 7.0-8.0 billion euros previously, while recurring NI should be 4.9-5.5 billion euros vs. 3.8-4.4 billion euros previously.


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.