Dong Energy: Credit Suisse raises target price after deal.

(CercleFinance.com) - Credit Suisse, which has an "outperform" rating on the Dong Energy stock, has raised its target price and estimates for the Danish energy provider after the group divested 50% of a German offshore wind farm project and increased its EBITDA guidance for 2017 in the wake of the deal.


The brokerage firm believes that Dong has one of the best sources of value-accretion in the sector, and estimates that the company will manage to double underlying EBITDA between 2017 and 2021.

It adds that the group's exit from oil and gas increases its green credentials, prompting it to increase estimates by 8% for 2017 and 2018, while raising its target price to 325 Danish kronor from 315 Danish kronor.



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