(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ rating on Enel shares with a price target lowered from 9.6 to 9.2 euros based on the average of the DCF (8.1 E), and the ‘ANR (10.40 E)
‘The group has published 2023 performances in line with consensus expectations’, indicates the analyst who adds that ‘as expected, performance is driven by integrated generation activities (thermal generation and trading’.
While management has confirmed compliance with the 2024-2026 trajectory delivered last November, Oddo BHF indicates that it is maintaining its estimates unchanged.
In the group’s strategic plan, the 2024 EBITDA guidance is between €22.1 billion and €22.8 billion and that of RNpg between €6.6 billion and €6.8 billion.
‘Our current estimates are within this framework with an expected EBITDA of E22.45 billion and an RNpg of E6.7 billion’, concludes Oddo BHF.
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