EDP : Q1 2020 figures better than we expected, 2020 trajectory confirmed
>Buy rating and € 4.60 target price maintained - EDP’s Q1 2020 results beat our expectations and those of the consensus, driven by favourable hydro volumes, a resilient showing for network operations and the energy management business which benefited significantly from volatile conditions in the peninsula’s electricity markets. Management is adopting a cautiously confident stance on the group's capacity to navigate the health crisis. The 2020 trajectory, which is in l...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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