EDF: Morgan Stanley expects 'strong EBITDA guidance'
(CercleFinance.com) - On Monday, an analyst at Morgan Stanley confirmed his buy recommendation ("overweight") on the EDF share, before the group presents its 2019 results in February.
"We think EDF will seea positive share price reaction to the French energy regulator's proposed tariff increase and its acknowledgment that "the ARENH mechanism set up several yearsago is now outdated and needs to evolve". We expect the tariff proposal to translate into strong EBITDA guidance," the broker expects.
Morgan Stanley therefore confirms its target price of 13 euros for the share.
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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.
"We think EDF will seea positive share price reaction to the French energy regulator's proposed tariff increase and its acknowledgment that "the ARENH mechanism set up several yearsago is now outdated and needs to evolve". We expect the tariff proposal to translate into strong EBITDA guidance," the broker expects.
Morgan Stanley therefore confirms its target price of 13 euros for the share.
Copyright (c) 2020 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.