Engie: Oddo BHF confirms buy rating

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Engie shares, with an unchanged target price of E16.
5.

With Engie due to publish its interim results on 2 August, Oddo BHF expects EBITDA to fall by 9.3% to E8,494m and EBIT to contract by 13.8% to E5,994m. NI (gs) is expected to contract by 18.7% to E3,291m.

After an exceptional 2023, 2024 should see the first signs of earnings normalisation, the broker points out.

In an uncertain political context in France, we include a risk premium specific to the value in our model at this stage, the analyst adds.


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