Iberdrola: UBS still says buy
(CercleFinance.com) - UBS maintains its Buy rating on Iberdrola shares with a target price of E13.
15.
"We update our forecasts to delay PNM integration until 2024 and reflect higher than expected margins in Spain in Q1," the analyst notes, for which uncertainty on the completion of the agreement "remains, but the impact should be limited".
The broker has reiterated its Buy rating, mainly to highlight the company's "growth and defensiveness", UBS adds.
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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.
15.
"We update our forecasts to delay PNM integration until 2024 and reflect higher than expected margins in Spain in Q1," the analyst notes, for which uncertainty on the completion of the agreement "remains, but the impact should be limited".
The broker has reiterated its Buy rating, mainly to highlight the company's "growth and defensiveness", UBS adds.
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.