EDF: Bryan Garnier remains neutral after rumours
(CercleFinance.com) - Bryan Garnier maintains its "neutral" recommendation on EDF, as well as its fair value of 10.
20 euros, against a backdrop of "speculations concerning a split of EDF," which have led to a sharp rise in its share price.
"We still believe that a split would be positive for both EDF and current company's shareholders amid improved visibility, further derisking and triggering a mechanical rerating," the analyst said.
"Yet, uncertainties regarding such an option remain numerous in our view (upcoming French Multi-Year energy programme, current tense social context in France, potential need for a regulatory framework for French nuclear fleet) implying this potential split would not be an easy road. Yesterday evening, Martin Vial, APE's Chief, denied such speculations."
Copyright (c) 2018 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.
20 euros, against a backdrop of "speculations concerning a split of EDF," which have led to a sharp rise in its share price.
"We still believe that a split would be positive for both EDF and current company's shareholders amid improved visibility, further derisking and triggering a mechanical rerating," the analyst said.
"Yet, uncertainties regarding such an option remain numerous in our view (upcoming French Multi-Year energy programme, current tense social context in France, potential need for a regulatory framework for French nuclear fleet) implying this potential split would not be an easy road. Yesterday evening, Martin Vial, APE's Chief, denied such speculations."
Copyright (c) 2018 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.