EDP : EDP Revival….
>Buy maintained and target price adjusted to € 4.0 (vs € 4.10) - Following a road show day in Paris with the group’s management, we maintain our Buy recommendation and are adjusting our target price to € 4.0 vs € 4.10 previously. Given the strong probability of a shelving of CTG's ongoing bid for EDP's capital, we have returned to a fundamental valuation through an average of the DCF (€ 4.04 with a WACC of 5.21% and an unchanged perpetual growth rate of 1.20%) and the...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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