RWE: Barclays raises target price to 19.1 euros.

(CercleFinance.com) - Barclays has said that it has raised its target price on German utility RWE to 19.
1 euros after the German Constitutional Court yesterday retroactively struck down the nuclear fuel tax, ruling in favour of the group.

The brokerage firm now expects the German government to pay back to the energy giant 1.7 euros in taxes, which it paid over 2011-16, plus interest on this amount (which Barclays estimates around 270 million euros).

Barclays expects the government to repay these funds at some point in the second-half of 2017.

After jumping 5.5% yesterday, the shares are up 0.3% at 19.6 euros today.

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