Enel: UBS still a buyer

(CercleFinance.com) - The analyst notes that net income was higher in Q3 2024, EBITDA was broadly in line and guidance for FY 2024 was reiterated.


UBS reiterates its Buy recommendation on the stock, leaving its target price unchanged at E8.25. This new TP represents 21% upside potential for the Italian energy group's stock.

The analyst highlights the solid achievement of efficiency gains. No delays are expected in the current M&A transactions. All strategic comments have been postponed to the CMD on 18 November, UBS says.

After the faster-than-expected delivery of the cost reduction and divestment plan, debt is now comfortable and the November 2024 strategic plan should refocus on growth, the broker adds, which also mentions 'solid' results.


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