Engie: trading at a discount according to Jefferies

(CercleFinance.com) - Jefferies confirms its Buy recommendation on the stock, with a price target of 19 E.


'We consider Engie to be a key player in renewable energies that is trading at an unjustified, albeit diminishing, discount to its competitors', says the analyst firm.

We believe Engie can continue to narrow the valuation gap, with a catch-up to consensus forecasts ahead'.

This is supported by a robust business mix, constructive management incentives, and price fluctuations due to French politics. Our EBIT/NI estimates for FY 24-26 are +c.5% versus consensus on average' adds Jefferies.

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