ERG : Un T1 supérieur aux attentes, une guidance 2021 relevée et un BP 2025 ajusté
>Opinion Neutre et OC 24.8 € maintenus - A l’issue de la publication des performances du T1 2021, supérieures à nos attentes et à celles du consensus, et de la journée Investisseurs dédiée au plan stratégique 2021/2025, nous maintenons notre recommandation Neutre et notre objectif de cours de 24.8 €. Celui-ci est fondé sur une moyenne entre un DCF (18.1 €, CPMC de 5% et taux de croissance à l’infini de 1.80%), une somme des parties (23.2 €) qui prend en compte l’objec...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.
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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