Cutting E.ON's FVE to EUR 8 From EUR 12 and Downgrading Moat Trend to Negative From Stable
We cut our fair value estimate for E.ON's shares to EUR 8 from EUR 12 due to lower profitability forecasts for the networks and Preussen Elektra divisions. We maintain our no-moat rating while downgrading our moat trend rating to negative from stable. Shares look fairly valued to us at present.ÂThe key driver of the downgrade in our moat trend rating is the planned cut in energy networks' allowed returns in Germany in 2018 and 2019, and the likely cut in Sweden as of 2020. We also believe the c...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.