Engie: Deutsche Bank slightly raises its target

(CercleFinance.com) – Deutsche Bank raised its price target on Engie on Monday, from 16 to 16.5 euros, while renewing its purchase recommendation on the stock.

While he had a generally ‘neutral’ opinion on the utilities sector since the start of the year, the intermediary now says he has a more positive opinion.

He explains that the hole in results that was supposed to occur due to the fall in electricity prices did not materialize, which allows the sector to stand out in terms of valuation.

Over a two-year horizon, the sectoral PER shows a discount of 7% compared to the rest of the market, points out the intermediary, who emphasizes that such a phenomenon has only occurred in only 1.4 % of the time over the interval 2010-2023.

Copyright © 2024 CercleFinance.com. All rights reserved.
The information and analyzes distributed by Cercle Finance only constitute a decision-making aid for investors. Cercle Finance cannot be held responsible directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional advisor before making any investment. This indicative information does not in any way constitute an inducement to sell or a solicitation to buy.

Did you like this article ? Share it with your friends using the buttons below.





Source link -85