Endesa exhibits low organic growth potential due to a lack of international exposure.
We maintain our fair value estimate of EUR 18.30 and our no-moat, stable trend ratings after Endesa published half-year results in line with consensus expectations and reiterated its full-year guidance, which is in line with our estimates. Shares look overvalued, and we prefer undervalued parent company Enel, whose organic growth potential is higher, owing to a large international footprint.EBITDA increased by 12% in the first half of the year after a 25% rebound in the first quarter, implying ...
Endesa is engaged in the production, transmission, distribution, and supply of electricity, through hydroelectric, fossil fuel, and nuclear generation. Co. is also engaged in the mining of coal for use in its fossil-fuel electric plants; mining research; land restoration, and environmental monitoring and control.
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