EDF: Morgan Stanley raises target price
(CercleFinance.com) - Morgan Stanley reinstates its "overweight" rating on the EDF share, having increased its corresponding target price from 13 euros to 16 euros, saying "We see more upside ahead following FY19 results, which de-risked the re-organisation investment case".
"We see more upside ahead following FY19 results, which de-risked the re-organisation investment case. We expect multiple expansion to continue as further progress becomes evident on 1.) Nuclear regulation reform, 2.) Project Hercule to split into Blue and Green, 3.) EU Approval," the broker adds.
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