EDF: Jefferies downgrades stock with nationalisation ahead

(CercleFinance.com) - With the nationalisation of EDF on the horizon, Jefferies has downgraded its rating on the electricity company's stock from "buy" to "hold", while aligning its target price with the tender offer price proposed by the French government, i.
e. 12 euros per share.

The broker says that the bill that will ensure the financing of the operation by the government was recently approved by French parliament, although still awaits approval by the Senate.

"Whilst there are still several approval stages to pass, management provided a ballpark completion date of Autumn 2022 during the 1H22 results call," it added.




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