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RWE: Credit Suisse upgrades stock

( - Credit Suisse has upgraded its rating on the RWE stock from "neutral" to "outperform," having raised its corresponding target price from 29.
3 euros to 30 euros, which means upside potential of around 15% for the German energy group.

The broker estimates 2020-22 EBITDA growth at around 9% p.a., outpacing sector growth of around 5%, an estimate that is mainly based on an analysis of renewable energy activities.

Credit Suisse says it expects renewable energies to grow by an average of around 15% per year over 2020-23, benefiting from the delivery of new assets to the group.

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