Voltalia: Oddo BHF reduces target price
(CercleFinance.com) - While maintaining its neutral recommendation on Voltalia shares, Oddo BHF has trimmed its target price for them from E12.
4 to E11.4, after lowering its 2024 and 2027 estimates (which were at the high end of the consensus).
H2 2024 will be impacted by capping measures in its main market, Brazil, due to a mismatch between renewable production and the capacity of high-voltage transmission lines, the analyst points out.
The speculative appeal is not proven, given the patrimonial investment philosophy of the main shareholder, AlterBiz, unless we expect it to pull out of the stock market given the current valuation, they add.
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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.
4 to E11.4, after lowering its 2024 and 2027 estimates (which were at the high end of the consensus).
H2 2024 will be impacted by capping measures in its main market, Brazil, due to a mismatch between renewable production and the capacity of high-voltage transmission lines, the analyst points out.
The speculative appeal is not proven, given the patrimonial investment philosophy of the main shareholder, AlterBiz, unless we expect it to pull out of the stock market given the current valuation, they add.
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.