
Iberdrola: UBS raises target price
(CercleFinance.com) - UBS confirms its buy recommendation on the stock, with a target price of E13.
25 (up from E12.6) following its H1 results.
The analyst believes that mergers and acquisitions are contributing to strong organic earnings growth.
"We upgrade our forecasts and valuation following the second guidance upgrade this year. Premium deserved on compounded long-term growth and defensive angle", UBS says.
Strong operating performance and capacity increases expected in H2, enable Iberdrola to forecast double-digit earnings growth in 2024 (excluding capital gains from asset rotation).
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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
25 (up from E12.6) following its H1 results.
The analyst believes that mergers and acquisitions are contributing to strong organic earnings growth.
"We upgrade our forecasts and valuation following the second guidance upgrade this year. Premium deserved on compounded long-term growth and defensive angle", UBS says.
Strong operating performance and capacity increases expected in H2, enable Iberdrola to forecast double-digit earnings growth in 2024 (excluding capital gains from asset rotation).
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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.