Repsol: Oddo BHF still says buy
(CercleFinance.com) - Oddo BHF confirms its Outperform rating on Repsol shares, along with and its target price of E19.
5.
Repsol is said to be on the verge of putting a significant part of its renewable energy portfolio up for sale, the analyst said, citing a Spanish newspaper: in detail 49% of a wind and photovoltaic assets totaling capacity of 600 MW, with a valuation of E700-to-800m.
For the analyst, Repsol presents one of the most credible transition strategies in the sector by allocating nearly 40% of its Capex to renewables with very good visibility thanks to the pipeline.
Oddo BHF says that Repsol has underperformed its peers this year following the fall in gas and diesel prices, although this should be reversed towards the end of the year, with an expected fall in stocks.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5.
Repsol is said to be on the verge of putting a significant part of its renewable energy portfolio up for sale, the analyst said, citing a Spanish newspaper: in detail 49% of a wind and photovoltaic assets totaling capacity of 600 MW, with a valuation of E700-to-800m.
For the analyst, Repsol presents one of the most credible transition strategies in the sector by allocating nearly 40% of its Capex to renewables with very good visibility thanks to the pipeline.
Oddo BHF says that Repsol has underperformed its peers this year following the fall in gas and diesel prices, although this should be reversed towards the end of the year, with an expected fall in stocks.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.