E.ON: UBS downgrades stock
(CercleFinance.com) - UBS has downgraded its rating on E.
ON from 'buy' to 'neutral,' while maintaining its target price at 10.5 euros (current price about 10 euros, +0.2%; DAX 30 +0.4%), with its new target price that now suggesting upside potential of just 5% for the German energy group's shares.
"Performance has been strong this year, but earnings now look broadly flat for a few years and the outlook for catalysts is mixed," the broker summarised.
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