EDP Renovaveis S/A

EDP Renovaveis is a renewable energy company based in Spain. Co. is engaged in activities related to the electricity sector, namely the planning, construction, operation and maintenance of electricity generating power stations, especially hydroelectric, mini-hydroelectric, wind, solar, thermal solar, photovoltaic, biomass and waste plants, among others. Co. designs, develops, manages and operates power plants. Co. generates electricity using renewable energy sources mostly wind energy. Co. owns EDP Renewables Europe that operates in several European countries and Horizon Wind Energy, which operates in the United States. Co. is a part of the Energias de Portugal group.
  • TickerEDW
  • ISINES0127797019
  • ExchangeFrankfurt Stock Exchange
  • SectorElectricity
  • CountrySpain
Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/16/2020

Based on the new air traffic scenario of the ODDO BHF aerospace team (-60% in 2020 and +40% in 2021), we have lowered our EBITDA estimates by close to 30% for ADP and Fraport, which puts us 30% below the consensus for 2021. We are maintaining our Reduce ratings on both stocks, as cash generation is set to remain negative and the valuation is not attractive enough. Cf. sector report published last evening. - ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/07/2020

Le nouveau scénario de trafic aérien de l’équipe Aerospace d’ODDO BHF (-60% en 2020 et +40% en 2021) nous conduit à abaisser nos estimations d’EBITDA de près de 30% pour ADP et Fraport qui se situent désormais 30% en dessous du consensus en 2021. Nous conservons nos opinions Alléger sur les deux titres dont la génération de cash va rester négative alors que la valorisation est insuffisamment attractive. - Cf. étude publiée hier soir. - ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 07/16/2020

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Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 16/07/2020

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Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Overweight Global Technology & Industrials The absence of breakdowns in both the US dollar (DXY) and the MSCI EAFE vs. EM ratio along with the positive correlation between the two allows us to continue sticking with EAFE over EM... see charts below. As long as the DXY's uptrend remains intact, we expect EAFE to continue outperforming EM. Below we highlight attractive and actionable themes within developed int'l markets: • Technology and Industrial Manufacturing. Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account fo...

Jérôme VINERIER

Short term view - EDP RENOVAVEIS SA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €7.930, then €7.688. Passing €8.850 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - EDP RENOVAVEIS SA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 7,930 €, puis 7,688 €. Le franchissement de 8,850 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - EDP RENOVAVEIS SA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €7.930, then €7.688. Passing €8.850 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - EDP RENOVAVEIS SA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 7,930 €, puis 7,688 €. Le franchissement de 8,850 € remettrait en cause la suite de la baisse.

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO : EDP and EDPR to strengthen their assets in Iberian peninsula

>A twin acquisition to strengthen the regulated/contractual profile - EDP has announced, as part of a partnership with Macquarie, the acquisition of Viesgo’s regulated electricity distribution and renewable energy generation assets. The rationale with this transaction is to: 1/ strengthen EDP’s defensive profile with a distribution network that brings together the group’s positions in the north of Spain (Asturia), in a stable regulatory framework until 2025, 2/ allow ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO : EDP et EDPR renforcent leurs actifs en Ibérie

>Une double acquisition qui renforce le profil régulé/contractualisé - EDP a annoncé, dans le cadre d’un partenariat avec Macquarie, l’acquisition des activités régulées de distribution d’électricité et de production d’énergies renouvelables de Viesgo. Le rationnel de cette transaction est 1/ de renforcer le profil défensif d’EDP avec un réseau de distribution qui encadre ses positions dans le nord de l’Espagne (Asturie), dans un cadre réglementaire stable jusqu’en 20...

Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP Renovaveis : Q1 2020 broadly in line, 2020 with no change in trajectory

>Reduce recommendation and target price of € 10.0 maintained - Q1 2020 performances, on a recurring basis, were broadly in line with our estimates. Note that the scope of consolidation had a significant impact on the quarter in terms of operating performance in July 2019, since as part of its asset rotation policy it sold 997 MW in Europe, 199 MW in the US and 137 MW in Brazil. The group suffered in Q1 2020 from wind conditions comparable to those in Q1 2019, with a c...

Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP Renovaveis : Un T1 20 globalement en ligne, 2020 sans changement de trajectoire

>Opinion Alléger et OC à 10.0 € maintenus - Les performances du T1 20, sur une base récurrente, sont ressorties globalement en ligne avec nos estimations. Notons que les effets de périmètre sont significatifs sur le trimestre en termes de performance opérationnelle opérée en juillet 2019, puisque dans le cadre de sa politique de rotation d’actifs il a cédé 997 MW en Europe, 199 MW aux Etats-Unis et 137 MW aux Brésil. Le groupe a pâti sur le T1 20 de conditions de vent...

Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP Renovaveis : Q1 operations in line, recurring net profit lower

>Negative volume effect as expected - The company just released its figures for Q1 2020, which are broadly in line with our estimates and the consensus at the operating level but lower at the net profit level. As expected, the company recorded an 8% decline in its production, mainly driven by the group's asset rotation policy (disposals of 908 MW in Europe and 137 MW in Brazil partially offset by the commissioning of 382 MW in the US). Regarding operations, EDPR recor...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/16/2020

Based on the new air traffic scenario of the ODDO BHF aerospace team (-60% in 2020 and +40% in 2021), we have lowered our EBITDA estimates by close to 30% for ADP and Fraport, which puts us 30% below the consensus for 2021. We are maintaining our Reduce ratings on both stocks, as cash generation is set to remain negative and the valuation is not attractive enough. Cf. sector report published last evening. - ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/07/2020

Le nouveau scénario de trafic aérien de l’équipe Aerospace d’ODDO BHF (-60% en 2020 et +40% en 2021) nous conduit à abaisser nos estimations d’EBITDA de près de 30% pour ADP et Fraport qui se situent désormais 30% en dessous du consensus en 2021. Nous conservons nos opinions Alléger sur les deux titres dont la génération de cash va rester négative alors que la valorisation est insuffisamment attractive. - Cf. étude publiée hier soir. - ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 07/16/2020

...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 16/07/2020

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/08/2020

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Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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