Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

EDP : Un T1 2019 marqué par la rudesse des conditions d’exploitation

>Recommandation Achat et OC 4.0 € maintenus - A l’issue de la publication des performances du T1 2019, qui sont ressorties en ligne avec nos estimations, nous maintenons notre recommandation Achat et notre objectif de cours à 4.0 €, fondé sur une moyenne entre le DCF (4.04 € avec un CMPC de 4.65% et un taux de croissance à l’infini de 1.20% inchangé) et la somme des parties (3.97 €). A notre objectif de cours, les multiples de valeur d’entreprise font ressortir une pr...
Underlying
EDP-Energias de Portugal SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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