EDP : Growth and optimisation trajectory confirmed
>Outperform rating and target price of € 6.0 maintained - On a basis adjusted for non-recurring items, H1 2023 results were perfectly in line with our expectations and broadly in line with those of the consensus. Activity in the first half was driven by the return to a more normal situation in terms of hydroelectricity on the Iberian Peninsula and the resilience of the regulated networks. As at the conference call with its subsidiary EDPR, EDP's management reiterated ...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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