EDP : It’s better to be integrated!
>Outperform rating and target price maintained - Adjusted for non-recurrent items, EDP’s 2023 results were broadly in line with our expectations but slightly lower than those of the consensus. Business was buoyed by the return to a more normal situation in terms of hydroelectricity in the Iberian Peninsula and the resilience of regulated networks. Ahead of today’s conference call, we maintain our Outperform rating in view of the group’s strategy, which is comparable i...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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