Enel: BofA upgrades stock
(CercleFinance.com) - BofA Global Research has upgraded Enel shares to 'buy', with a target price raised to E8.
30, believing that the Italian utility group has the recipe to offer Europe's most attractive share price in the integrated utilities sector.
Improved earnings quality, a lower cost of capital and low risk can help reduce a discount of over 20% to the sector in terms of P/E", the broker believes.
BofA also considers that a solid balance sheet gives Enel the opportunity to increase its EPS to 4%-8% above consensus, and maintains a dividend yield growing at over 7%.
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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.
30, believing that the Italian utility group has the recipe to offer Europe's most attractive share price in the integrated utilities sector.
Improved earnings quality, a lower cost of capital and low risk can help reduce a discount of over 20% to the sector in terms of P/E", the broker believes.
BofA also considers that a solid balance sheet gives Enel the opportunity to increase its EPS to 4%-8% above consensus, and maintains a dividend yield growing at over 7%.
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.