EDP Renovaveis : A message that ought to reassure investors in renewables
>No change to Neutral rating and TP of € 20.50 - H1 2023 performances were higher than our forecasts and the consensus figures. Like its rivals, EDPR suffered from more difficult operating conditions in Q2 2023 with wind resources in decline due to the El Nino effect. Despite the half-yearly trajectory, the group confirmed its forecasts for 2023, which are in line with the current consensus. We are making no change to our estimates or our Neutral rating based on the...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.
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