(CercleFinance.com) – UBS maintains its Buy rating on Iberdrola shares with a price target of 13.15E.
‘We are updating our forecast to delay the integration of PNM until 2024 and reflect higher than expected margins in Spain in the 1st quarter,’ notes the analyst for whom this uncertainty on the completion of the agreement ‘ remains, but the impact should be limited.
The Buy rating is reiterated, primarily to underscore ‘the growth and resilience of the business’, adds UBS.
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