Enel : A reassuring message on Italy in a worsening health environment
>Buy vs Neutral: reassuring stance and a low valuation - The negative impact of the health crisis has sent the share plunging (-30% from the peak of € 8.44 of 21 February), thus recreating clear upside on our target price. Our rating upgrade from Neutral to Buy is motivated, looking beyond the current valuation, by management’s reassuring stance, not only on 2020 with the compliance with the strategic roadmap set out in November 2019, but also on 2021 at this stage. ...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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