Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Enel : Des résultats 2018 définitifs sans surprise

>Recommandation maintenue et OC à 5.45 € (vs 5.0 €) - Suite à la publication des résultats 2018 qui sont ressortis en ligne avec nos estimations, la recommandation Neutre est maintenue. Après mise à jour des données de marché, notre objectif de cours est ajusté à 5.45 € (vs 5.0 €), fondé sur la moyenne entre le DCF (5.58 €, CPMC de 5.21% et taux de croissance à l’infini inchangé de 1.2%) et l’ANR (5.32%). Au cours actuel, Enel affiche une décote de 32,1% par rapport à...
Underlying
Enel SpA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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