Enel : Q1 24 slightly better, with unchanged trajectory for 2024
>Outperform rating and € 9.20 target price maintained - Enel’s Q1 24 performances just beat expectations. Q1 was, as expected, driven by generation and marketing but it also benefited from investments in grids and price revisions. Management confirmed the group’s compliance with the 2024-2026 trajectory given last November. In view of this confirmation, we are leaving our estimates unchanged. We maintain our Outperform rating and target price of € 9.20, still based on...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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