EDP : Visibility on 2023 and potential upgrade of 2024-2026e trajectory
>Outperform rating and target price of € 6.0 maintained - Following the conference call to present its 9M 2023 performance, the group announced a 2023 EBITDA guidance of around € 5bn and an attributable net profit range lifted to € 1.2bn - €1.3bn, compared with a previous target of around € 1.2bn. This guidance includes capital gains on asset disposals and is in line with our EBITDA estimate of € 4.94bn if the €450m capital gain is reincorporated. At the top end of t...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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