EDP : H1 2024 results ahead of forecasts and 2024 trajectory reiterated
>Outperform opinion and target price of € 5.95 maintained - Following the release of H1 2024 results ahead of our forecasts and consensus estimates, driven on a resilient base by decarbonised production and network activities, the group confirmed its 2024 trajectory. We reiterate our Outperform opinion. As well as the recovery in its fundamentals, which should fuel a rerating, EDP remains in our view a possible target for a buyer wishing to expand in or enter renewabl...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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