RWE: Berenberg raises target price
(CercleFinance.com) - On Wednesday Berenberg raised its target price for the RWE share from 30 euros to 35.
5 euros, believing that the German energy group is largely unaffected by the Covid-19 crisis.
The broker - which has a buy rating on the electrician, with the share its top pick in the sector - believes that the group is well on track to reinforce its capacity in renewable energy, both during and after the crisis.
"We think there is an unjustified c20-30% implied valuation discount for the group's renewables business versus its large-cap quoted peers. RWE remains our top pick in the sector," the broker says.
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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.
5 euros, believing that the German energy group is largely unaffected by the Covid-19 crisis.
The broker - which has a buy rating on the electrician, with the share its top pick in the sector - believes that the group is well on track to reinforce its capacity in renewable energy, both during and after the crisis.
"We think there is an unjustified c20-30% implied valuation discount for the group's renewables business versus its large-cap quoted peers. RWE remains our top pick in the sector," the broker says.
Copyright (c) 2020 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.