EDF: Berenberg cuts target price
(CercleFinance.com) - On Friday Berenberg cut its target price for the EDF share from 9.
3 euros to 8.1 euros (current price: 8.3 euros), with the broker believing that the French electricity supplier's 2020 dividend is at risk.
In a note sent to clients, the German broker underlines that the share is trading in line with its sector's P/E for 2022, despite of the prospect of another failure to pay a dividend due to debt that has reached record levels.
Berenberg maintains its "hold" rating on the EDF 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.
3 euros to 8.1 euros (current price: 8.3 euros), with the broker believing that the French electricity supplier's 2020 dividend is at risk.
In a note sent to clients, the German broker underlines that the share is trading in line with its sector's P/E for 2022, despite of the prospect of another failure to pay a dividend due to debt that has reached record levels.
Berenberg maintains its "hold" rating on the EDF 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.