Enel : 2019 preliminary data in line with our forecasts
>Rating maintained and target price adjusted to € 7.00 vs € 6.30 - Following Enel’s preliminary 2019 figures, which were in line with our estimates, we are maintaining our Neutral rating but have adjusted our target price to € 7.0 vs € 6.30. This adjustment factors in our updated operational, financial and market data. Our target price is still based on the average of a DCF, which benefits from a 40bp lower WACC since September (€ 6.95, WACC of 4.29% and unchanged per...Enel Societa Per Azioni is engaged in the generation and sale of electricity through its Generation, Energy Management and Sales Italy Division. Co. is also engaged in the distribution of electricity (Enel Distribuzione) and public and artistic lighting (Enel Sole) in Italy through its Infrastructure and Networks Division. Co.'s Iberia and Latin America Division coordinates Co.'s operations in the electricity and gas markets in Spain, Portugal and Latin America. Co.'s Engineering and Research Division manages the engineering processes related to the development and construction of power plants. Co.'s other divisions are the International Division as well as the Renewable Energy Division.
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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