ERG : Growth remains, despite political interference
>Outperform recommendation and target price of € 38.5 maintained - In view of the 9M 2022 results release a shade ahead of our expectations and the consensus, we maintain our Outperform opinion and our price target of € 38.5, based on an average between a DCF (€ 43.7, WACC of 5% and a perpetual growth rate of 1.80%), a sum-of-the-parts (€ 30.2) which factors in the target of 4.6 GW in 2026 and a sector comparison with its peers of the EV/EBITDA multiple at the target ...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.