Endesa: UBS downgrades its recommendation

(CercleFinance.com) - UBS downgrades its recommendation on Endesa from 'buy' to 'neutral', while raising its target price from 19.
2 to 19.6 euros, a new target that leaves only 5% upside potential for the Spanish energy group's shares.

Our new price target reflects a more positive view of the remuneration of regulated activities, but limited upside potential and possible risks make us more cautious", explains the broker in the summary of its note.

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