EDP Renovaveis : A year of growth boosted by volumes, prices, and capital gains
>Neutral recommendation and € 18.8 TP maintained - The 9M 2022 performances were in line with our estimates and the consensus. EDPR benefited from a price effect stemming from inflation indexing along with higher wholesale prices and a volume effect boosted by growth in installed capacity and more abundant resources. We maintain our Neutral recommendation based on the relative intra-sector potential. We also maintain our € 18.8 target price which is the average of a D...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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