E.ON: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on E.
ON shares, while raising its target price for them from E13.5 to E14, after the German energy group announced Q1 results that exceeded expectations.
Believing that the company will be able to repeat some of its Q1 performance, the broker has raised its estimates as a result; by 12% for EPS to E1.04 in 2023 and by 5% to E0.98 and E0.96 respectively in subsequent years.
At current levels, E.ON is still discounted relative to its peers, although has one of the most attractive price-to-cash ratios in the sector for a sustained growth profile in EBITDA, the analyst said.
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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.
ON shares, while raising its target price for them from E13.5 to E14, after the German energy group announced Q1 results that exceeded expectations.
Believing that the company will be able to repeat some of its Q1 performance, the broker has raised its estimates as a result; by 12% for EPS to E1.04 in 2023 and by 5% to E0.98 and E0.96 respectively in subsequent years.
At current levels, E.ON is still discounted relative to its peers, although has one of the most attractive price-to-cash ratios in the sector for a sustained growth profile in EBITDA, the analyst said.
Copyright (c) 2023 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.