EDF: Jefferies still a buyer after interim results

(CercleFinance.com) - Broker Jefferies this morning confirmed its buy rating on the EDF share, hailing interim results, which came in above expectations.


The broker maintains its target price at 14 euros.

According to Jefferies analysts, H1 EBITDA of 8.2 billion euros unveiled by the French energy giant has exceeded a consensus of around 7.8 billion euros, which reflects a robust operational performance and continued savings efforts. However, in France, there has been improved nuclear availability and a sharp rise in hydro generation.

Jefferies also highlights the rise in the group's annual EBITDA forecast range, coupled with a reduction in debt, which is also expected to improve faster than expected by the end of the year.



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