Raising Our Fair Value Estimate to EUR 23.40 for Best Idea Gas Natural Ahead of June Strategy Update
We raise our fair value estimate for Gas Natural from EUR 21 to EUR 23.50 due to improving fundamentals at the liberalized gas business and our conviction that incremental costs and investments savings will be announced at the strategy update in late June.With international investment funds CVC and Global Infrastructure Partners holding 40% of the capital, the board recently reshuffled, and a new CEO appointed early 2017, we see Gas Natural as the most exciting turnaround story in the sector. W...
Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).
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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.
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