(CercleFinance.com) – The stock ended down 2.6% on the Frankfurt Stock Exchange after Stifel’s analysis. The analyst downgrades his recommendation on RWE from ‘buy’ to ‘hold’ with a price target reduced from 48 to 40 euros, seeing 2024 as ‘a difficult year in terms of energy prices in Europe and news flow policies in the United States.
‘We expect the valuation discount applied by investors to be maintained for some time,’ indicates the broker, noting in particular that coal and lignite should still represent around 10% of the group’s portfolio in 2029.
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