EDP : A welcome revision to the 2026 trajectory
>Outperform rating maintained and target price adjusted to € 5.95 (vs € 6.0) - Following the Q1 2024 earnings release on Thursday 9 May, the group organised a conference call on Friday 10 May in which it announced a revision to its 2026 trajectory given market conditions that are significantly different from what was expected in the March 2023 strategic presentation. This update reduces the capex envelope by € 2bn and lowers the 2023-2026e CAGR for EBITDA (1% vs 6%) a...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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