Enel Discloses 2020 Financial Targets Above Our Expectations
Enel reiterated its 2017-19 EBITDA targets and set a 2020 EBITDA target well above our and consensus' estimates when management released their updated business plan. The group also set a 2020 net income target well above our expectations. As underlying assumptions look realistic, we will likely raise our earnings estimates. For the moment, we reiterate our EUR 5.30 per share fair value estimate and our no-moat, stable trend ratings.ÂManagement's 2020 EBITDA target is EUR 18.2 billion versus EUR...
Enel Societa Per Azioni is engaged in the generation and sale of electricity through its Generation, Energy Management and Sales Italy Division. Co. is also engaged in the distribution of electricity (Enel Distribuzione) and public and artistic lighting (Enel Sole) in Italy through its Infrastructure and Networks Division. Co.'s Iberia and Latin America Division coordinates Co.'s operations in the electricity and gas markets in Spain, Portugal and Latin America. Co.'s Engineering and Research Division manages the engineering processes related to the development and construction of power plants. Co.'s other divisions are the International Division as well as the Renewable Energy Division.
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