Enel : A reassuring preliminary publication
>Outperform rating and target price of € 9.60 maintained - After the preliminary 2022 publication, which came in a shade above our forecasts (essentially on EBITDA and debt), we are sticking with our Outperform rating and our target price of € 9.60 still based on an average between DCF (€ 9.05, WAAC of 5.64% and a perpetual growth rate unchanged 1.2%) and NAV of (€ 10.20). FY 2022 was marked by a profile, once again unusual, penalised by low rainfall, political and fi...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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