Enel : Q2 confirms the “recovery” and full-year guidance reaffirmed
>Outperform recommendation and target price of € 9.60 maintained - After the publication of H1 2021 results, which were broadly in line with our estimates, we are maintaining our Outperform recommendation and our target price of € 9.60, still based on the average of DCF (€ 8.60, WACC of 5.09% and a perpetual growth rate unchanged at 1.2%) and NAV (€ 10.70). The operating performance was negatively affected by unfavourable base effects and currencies. Note that EBITDA ...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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