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Engie: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Engie shares, with an unchanged target price of E16.
5.
With Engie due to publish its interim results on 2 August, Oddo BHF expects EBITDA to fall by 9.3% to E8,494m and EBIT to contract by 13.8% to E5,994m. NI (gs) is expected to contract by 18.7% to E3,291m.
After an exceptional 2023, 2024 should see the first signs of earnings normalisation, the broker points out.
In an uncertain political context in France, we include a risk premium specific to the value in our model at this stage, the analyst adds.
Copyright (c) 2024 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.
5.
With Engie due to publish its interim results on 2 August, Oddo BHF expects EBITDA to fall by 9.3% to E8,494m and EBIT to contract by 13.8% to E5,994m. NI (gs) is expected to contract by 18.7% to E3,291m.
After an exceptional 2023, 2024 should see the first signs of earnings normalisation, the broker points out.
In an uncertain political context in France, we include a risk premium specific to the value in our model at this stage, the analyst adds.
Copyright (c) 2024 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.