Enel : Preliminary 2018 results in line with our forecasts
>Recommendation and target price unchanged - Following the publication of 2018 preliminary results which, on the face of it, are in line with our estimates, we maintain our Neutral recommendation. Meeting EBITDA guidance is good news, which needs to be confirmed on the other lines of the P&L and balance sheet. Net debt stands at € 41.1bn, in line with the lower end of the guidance range (€ 41.0- / 42.0bn), which is also good news. Our target price remains unchanged at...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.
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