Enel: Jefferies raises its recommendation

(CercleFinance.com) - Jefferies upgrades its recommendation on Enel from 'hold' to 'buy', with a price target raised by 23% to eight euros, in the wake of EPS estimates for the period 2024-26 raised by 4% for the Italian utility.


In the summary of its note, the broker highlights the recovery in electricity prices in the second quarter and higher volume assumptions, but also the long-term potential linked to electricity demand for data centers.

Enel is trading at a significant discount to its integrated peers, which is unjustified based on our comparative analysis, in which it is well positioned in terms of business mix, yields and balance sheet," he adds.

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