EDP : Confidence for Q4 and the future pending the CMD of March 2023
>Outperform rating and target price of € 6.0 maintained - Following today's conference call, which prompted us to adjust our 2022 EPS estimate by -5.8%, mainly due to the trend in financial costs related to Brazil and average debt, we maintain our Outperform recommendation in view of the group's strategy, which is comparable in scale to that of Iberdrola (networks & renewables). Management's message was reassuring on the group's ability to overcome the hurdle of hydr...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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