EDP Renovaveis : A H1 2018 broadly in line, but absence of clear prospects
>Recommendation and target price maintained - Following the H1 2018 results publication, broadly in line with our expectations, we maintain a Neutral rating on the stock, and our target price of € 7.0 still on the basis of a DCF (WACC of 3.92% and growth to perpetuity of 1.8% unchanged) following an update of market data. At its current share price, EDPR is posting 2018-2020e EV multiples on average 15% higher than those of a panel of companies dedicated to renewables...EDP Renovaveis is a renewable energy company based in Spain. Co. is engaged in activities related to the electricity sector, namely the planning, construction, operation and maintenance of electricity generating power stations, especially hydroelectric, mini-hydroelectric, wind, solar, thermal solar, photovoltaic, biomass and waste plants, among others. Co. designs, develops, manages and operates power plants. Co. generates electricity using renewable energy sources mostly wind energy. Co. owns EDP Renewables Europe that operates in several European countries and Horizon Wind Energy, which operates in the United States. Co. is a part of the Energias de Portugal group.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.