E.ON: stock rises after Jefferies upgrade
(CercleFinance.com) - The E.
ON share is up 1.3% at 8.9 euros after Jefferies upgraded its rating from "hold" to "buy" as the German energy group is seen as "powering up."
Jefferies analysts say in a note that they see "several near-term catalysts", such as nine-month results on 29 November, an update on npower by the year-end, and a full-year 2019 results and strategy update on 25 March 2020.
The broker hence believes that the stock's valuation discount of more than 10% is "unwarranted."
The broker has therefore raised its target price for the share from 7.8 euros to 10 euros.
Copyright (c) 2019 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.
ON share is up 1.3% at 8.9 euros after Jefferies upgraded its rating from "hold" to "buy" as the German energy group is seen as "powering up."
Jefferies analysts say in a note that they see "several near-term catalysts", such as nine-month results on 29 November, an update on npower by the year-end, and a full-year 2019 results and strategy update on 25 March 2020.
The broker hence believes that the stock's valuation discount of more than 10% is "unwarranted."
The broker has therefore raised its target price for the share from 7.8 euros to 10 euros.
Copyright (c) 2019 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.