EDPR: Oddo BHF reduces target price

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on EDPR shares, reducing its target price for them from E20.
5 to E18.6.

The analyst maintains his 2023 estimates, in line with guidance, but has revises 2024 estimates, mainly in view of continued lower wind resources and solar commissioning in the US in H2 24.

Oddo BHF has also adjusted its estimates for installed capacity at the end of 2024 to 18.3 GW vs. 19.5 GW previously. As a result, the broker has lowered its EPS forecast for 2024 by 29.1%.

Overall, the broker has reduced its earnings estimate from E802m to E656m.


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