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Louis Boujard, CFA ...
  • Philippe Ourpatian

ERG : T1 2020 en ligne, une année 2020 ajustée de la ressource et du COVID-19

>Opinion Achat et OC 21.4 € maintenus - A l’issue de la présentation des performances du T1 2020, qui sont ressorties globalement en ligne avec nos estimations, nous confirmons notre opinion Achat et notre objectif de cours de 21.4 €. Ce dernier résulte d’une moyenne entre un DCF (18.8 €), une somme des parties (19.4 €) qui prend en compte l’objectif de 3.6 GW en 2022 ainsi qu’une hypothèse de progression de 300 MW par an post 2022 et une comparaison sectorielle avec...
Underlying
ERG S.p.A.

ERG is engaged in the generation of energy from renewable sources and from thermoelectric plants, in the marketing of electricity, steam and gas, in the refining, marketing and distribution of petroleum products both in Italy and abroad. Co., also through its own subsidiaries and joint ventures with primary international operators, operates in the following segments: renewable energy sources, under which Co. operates through its ERG Renew S.p.A. subsidiary in the wind power generation business; power and gas, which includes the production and marketing of electric energy, steam and gas; and refining and marketing, which includes the results of Coastal Refining and Integrated Downstream.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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