Enel: Credit Suisse says stock is discounted

(CercleFinance.com) - The European Commission will present its specific measures to stimulate the energy transition in the the coming days and weeks.


Credit Suisse believes that Enel can play a leading role in the process. The broker has therefore raised its target price for the share to 7.8 euros (from 7.4 euros), while confirming its buy rating, saying that "Enel currently trades at a discount to the sector”.

"We believe Enel is best placed to lead Europe's energy transition, for three reasons: its scale, being the leading European utility both in terms of installed renewable capacity (43GW globally) and planned additions (14GW in 2020-22), the flexibility of its pipeline, with 20GW of projects available to be built in 2020-22 and its balance sheet headroom and sound liquidity (E25bn available for E6bn maturities in 2020-21),” the broker adds.


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