E.ON: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF maintains its Outperform rating on E.
ON shares, with an unchanged target price of E16, after E.ON results yesterday morning were deemed satisfactory and largely in line with Css expectations even though slightly below Oddo's own forecasts, it says.
The 2024 guidance has been confirmed, although a few elements in the H1 publication lead analysts to be slightly more cautious about the EBITDA expected for the Retail and Energy Infrastructure Solutions divisions.
Oddo BHF reports that RWE holds a 15% stake in E.ON. Although neither company has commented on a possible share sale, RWE's willingness to carry out an M&A transaction has increased the chances of a placement of E.ON shares in the coming weeks, the analyst says.
Oddo BHF believes that this placement risk resulted in about a 2.5% drop in the share price at the close, even though E.ON's publication was satisfactory.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid 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.
ON shares, with an unchanged target price of E16, after E.ON results yesterday morning were deemed satisfactory and largely in line with Css expectations even though slightly below Oddo's own forecasts, it says.
The 2024 guidance has been confirmed, although a few elements in the H1 publication lead analysts to be slightly more cautious about the EBITDA expected for the Retail and Energy Infrastructure Solutions divisions.
Oddo BHF reports that RWE holds a 15% stake in E.ON. Although neither company has commented on a possible share sale, RWE's willingness to carry out an M&A transaction has increased the chances of a placement of E.ON shares in the coming weeks, the analyst says.
Oddo BHF believes that this placement risk resulted in about a 2.5% drop in the share price at the close, even though E.ON's publication was satisfactory.
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 a decision-making aid 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.