New PPE's Key Features Are Positive for Electricite de France; Share Price Fall Offers Entry Point
On Nov. 27, French president Macron unveiled the key features of the new French 2019-28 energy plan, the so-called PPE. As far as Electricite de France is concerned, we see the first announcements as positive compared with our assumptions. Pending more details on the structure evolution of the company, we maintain our fair value estimate of EUR 15 per share along with our no-moat, stable trend ratings. The share price decline offers a good entry point.ÂAs expected, Macron officially postponed t...
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.
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