Uniper: SG says it's time to take profits.
(CercleFinance.com) - As part of a report on German energy companies, Société Générale (SG) downgraded its rating on the Uniper stock from buy to hold.
SG admires the stock's impressive performance, although believes that is time for investors to take their profits. The French broker has nevertheless inched up its 12-month target price from 20.7 euros to 21.3 euros.
Since the start of the year, the RWE, E.ON and Uniper shares have risen by 41% to 78%, thanks to the reimbursement of the German "nuclear tax", the rise in electricity prices and the clarification of dividend policies.
Admittedly, SG believes that electricity prices should continue to benefit in 2019 by the tightening of the CO2 market. Admittedly, Uniper could whet investor appetites at least 25 euros per share when E.ON will sell its remaining 46.6% stake.
However, SG says that it believes it's time for investors to pause, which explains why the broker has abandoned its buy ratings on Uniper, E.ON and RWE.
Copyright (c) 2017 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.
SG admires the stock's impressive performance, although believes that is time for investors to take their profits. The French broker has nevertheless inched up its 12-month target price from 20.7 euros to 21.3 euros.
Since the start of the year, the RWE, E.ON and Uniper shares have risen by 41% to 78%, thanks to the reimbursement of the German "nuclear tax", the rise in electricity prices and the clarification of dividend policies.
Admittedly, SG believes that electricity prices should continue to benefit in 2019 by the tightening of the CO2 market. Admittedly, Uniper could whet investor appetites at least 25 euros per share when E.ON will sell its remaining 46.6% stake.
However, SG says that it believes it's time for investors to pause, which explains why the broker has abandoned its buy ratings on Uniper, E.ON and RWE.
Copyright (c) 2017 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.