Report
Tancrede Fulop
EUR 101.80 For Business Accounts Only

EDF is well positioned to benefit from rising power prices.

We reiterate our fair value estimate of EUR 8.90 per share for EDF along with our no-moat and negative trend ratings after recent speculation regarding a reform of the European Union emissions trading system boosted the share price. Speculation was revived by a meeting between the French and German ministers of ecology Sept. 4. They said they hoped ongoing discussions between the European Commission and Parliament regarding the reform of the EU ETS would lead to an agreement before the COP23 con...
Underlying
Electricite de France SA

Electricite de France is an integrated energy company with a presence in a range of electricity-related businesses: nuclear, renewable and fossil-fuel fired energy production, transmission, distribution, marketing as well as energy management and efficiency services, along with energy trading. Co. is an integrated energy company engaged in all aspects of the energy business: generation, transmission, distribution, supply and trading of energies. Co. is an electricity operator in France and abroad. The breakdown used by Co. for its activities is as follows: France; United Kingdom; Italy; Other International; and Other activities.

Provider
Morningstar
Morningstar

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.

Analysts
Tancrede Fulop

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