EDP : H1 18 slightly better than expected at the operating level and much better for net profit
>Buy recommendation and target price of € 4.1 maintained. - Following the publication of the performances to end-June 2018, which, excluding exceptional items, came in slightly ahead of our estimates and the consensus for EBITDA and above expectations for net profit, we maintain our Buy rating and target price of € 4.1. Our target price is derived from a speculative approach based on an average between historical mid1ecycle and peak cycle multiples, taking into accoun...Energias do Brasil is a holding company. Through its subsidiaries, Co. is engaged in the generation, acquisition, transmission, distribution and sale of hydroelectric and thermoelectric energy, as well as the import and export of electricity in the form of medium, high, and very-high tension electric energy.
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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