Best Idea Gas Natural Discloses 2018 Outlook Slightly Below Expectations
Gas Natural reported 2017 results bang in line with expectations, but the group unveiled some structural headwinds that will affect earnings as of 2018. Factoring them in will drive a slight cut in our fair value estimate. For the moment, we reiterate our fair value estimate of EUR 22 per share, along with our narrow moat and stable moat trend ratings. Shares are significantly undervalued after the market sell-off and concerns over regulation change in Spain. The 2017 dividend was confirmed at E...
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