EDP : 2020 set to be a better year
>Buy rating and target price maintained - Following the conference call to present the group’s 2019 results, we maintain our 2020-2022 earnings sequence based on the strategic update from March 2019. We see management's stance as cautious in terms of the operating indicators for 2020 as they look at this stage to be more much favourable. The stock still offers hidden value in our view, hence our Buy rating and € 5.0 target price. Our target price is based on the avera...EDP Energias de Portugal is a utility company engaged as a generator, distributor and supplier of electricity in Portugal, and as an electricity generation company and a gas distributor in the Iberian Peninsula. In addition, Co. is a wind power operator with windfarms for energy generation in the Iberian Peninsula, the U.S., Canada, Brazil, France, Belgium, Italy, Poland and Romania and is engaged in developing wind projects in the U.K. Co. is also engaged in generating solar photovoltaic energy in Portugal, Romania and the U.S, and in Brazil it is engaged as an operator in electricity generation. As of Dec 31 2015, Co. had 9.7 million electricity customers and 1.4 million gas customers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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