Engie: Oddo BHF confirms its recommendation on the share

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Engie shares, with an unchanged target price of 16.
5 euros.

With Engie due to publish its half-year results on August 2, Oddo BHF expects EBITDA to fall by 9.3% to 8,494ME and EBIT to contract by 13.8% to 5,994ME. NR pg is expected to contract by 18.7% to 3,291 ME.

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

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

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