Bryan Garnier - EDF (EDF FP) (ENEL) EDF: Not ready for the future. Downgrade to Sell | SELL vs. NEUTRAL | EUR9(-10%)

Report

Bryan Garnier

Xavier Regnard

EDF: Not ready for the future. Downgrade to Sell | SELL vs. NEUTRAL | EUR9(-10%)

EDF - SELL vs. NEUTRAL | EUR9(-10%)
Not ready for the future. Downgrade to Sell

Results were correct but it doesn’t matter
We don’t believe in Hercule anymore
Not ready for a future in renewables. O&G majors are catching-up
Sell vs Neutral. TP unchanged at EUR 9

24/02/2021 5 EN

Underlying

EDF (EDF FP)

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Xavier Regnard

Other Reports on these Companies

Bryan Garnier

EDF: EDF is heading for another bumpy year but the coming capital increase could be an opportunistic entry level | SELL | EUR9

EDF - SELL | EUR9 EDF is heading for another bumpy year but the coming capital increase could be an opportunistic entry level EBITDA supported by the regulated business while the UK suffered from negative price impact 2022 expected to be another challenging year The coming capital increase could be an opportunistic entry level

February 21, 2022 February 21, 2022 1 EN

Independent Investment Research

Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

August 6, 2021 August 6, 2021 10 EN

BIC forced to cut FY25 outlook after a perfect storm in Q1

We were bracing for severe turbulence in Q1 due to the weak retail environment in the US and a demanding comparison base for the rest of the world, but these headwinds proved to be more painful than expected (-10.9% LFL vs. CSSe of -7.5%), forcing the group to cut its FY25 outlook for sales (0-3% F

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Aurelien Deside

Aurelien Deside

Dassault Systèmes: not a great start to 2025

This morning, Dassault Systèmes published Q1 2025 results slightly below expectations for the top-line, but more significantly so on the profitability side. Revenues were up just 4%, well below consensus and the guidance midpoint, both at +5.5%, while IFRS operating income stood at 19.4%, vs 21.6%

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Maria Vara

Maria Vara

BONESUPPORT: Q1 revenue beats, but FX-driven EBIT miss masks solid momentum

BONESUPPORT reported a robust Q1, with net sales of SEK283.5m beating CSS SEK276m and driven by CERAMENT G sales of SEK178m in North America — well ahead of the SEK160m forecast. Gross margin remained best-in-class at 92.6%, slightly above expectations, underscoring the strength of the business mod

17h / 14m 17h / 14m 1 EN

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EDF: Not ready for the future. Downgrade to Sell | SELL vs. NEUTRAL | EUR9(-10%)

EDF: EDF is heading for another bumpy year but the coming capital increase could be an opportunistic entry level | SELL | EUR9

Monthly LMI Update Independent Investment Research

BIC forced to cut FY25 outlook after a perfect storm in Q1

Dassault Systèmes: not a great start to 2025

BONESUPPORT: Q1 revenue beats, but FX-driven EBIT miss masks solid momentum

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