Endesa : Cautious stance for the next three quarters
>Outperform rating and target price of € 25.30 maintained - The Q1 2023 results were in line with our expectations and slightly above the consensus. The quarter was buoyed by hydropower and growth in renewable installed capacities, a strong commercial performance and the resilience of the network businesses. The management reaffirmed their confidence that the 2023-2025 strategic plan trajectory will be respected, with EBITDA and ordinary attributable net profit expec...Endesa is engaged in the production, transmission, distribution, and supply of electricity, through hydroelectric, fossil fuel, and nuclear generation. Co. is also engaged in the mining of coal for use in its fossil-fuel electric plants; mining research; land restoration, and environmental monitoring and control.
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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