Short term view - REDES ENERGETICAS NACIONAIS SA : The bullish trend unfolds.
Our previous opinion was neutral.We turn positive with a target at 2,75 € and an invalidation level at 2,6 €.
The bullish trend unfolds.
Ren Redes Energeticas Nacionais is engaged in two principal lines of business: electricity transmission, where Co. owns and operates Portugal's national high-voltage electricity transmission network (the "RNT"), and natural gas, where Co. is engaged in the reception, storage and regasification of liquefied natural gas ("LNG"), the operation of the national high-pressure gas transmission network, which Co. owns and operates under respective concessions and the underground storage of natural gas. Co.'s electricity transmission business is conducted through its subsidiary REN - Rede Electrica, which holds a 50 year concession to operate the electricity transmission network in Portugal.
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