EDP Renovaveis : Good Q1 2022, robust environment, but underlying risks
>Neutral rating maintained and target price adjusted to € 18.8 (vs € 17.4) - EDPR’s Q1 2022 performances were broadly in line with our forecasts. Like its rivals, it benefited from a price effect related to inflation indexation and to higher wholesale prices, but also a volume effect driven by expansion in installed capacity and more abundant resources. We are maintaining our Neutral rating based on the relative intra-sector upside but have adjusted our target price t...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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