Enel : Mixed 9M 2022 figures, 2022 net profit guidance downgraded
>Outperform rating and € 9.60 target price maintained - Based on these mixed 9M 2022 earnings, with EBITDA and EBIT beating expectations but recurring net income falling short, we are maintaining our Outperform rating and € 9.60 target price, still based on the average from the DCF model (€ 9.05, WACC of 5.64% and perpetual growth rate unchanged at 1.2%) and NAV valuation (€ 10.20). Despite the group’s commitment to catching up from Q2 2022 the mediocre performances i...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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