EDP : 9M 2020 results right in line with our forecasts
>Buy rating and € 4.80 target price maintained - EDP’s 9M 2020 recurrent results were in line with our forecasts. Despite the impact of the health crisis and currency effects, the group benefited from a virtual return to normal activity in Q3. This expected upturn in market conditions, coupled with the group’s capacity for resilience, also demonstrated coming out of Q2, lends weight to our Buy rating on the stock. Looking beyond these operating aspects, we still belie...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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