Fortum : Q2 likely to reflect contrasting trends
>An open position with prices down - Fortum is due to report its Q2 2023 results on 4 August. Following contact with the company, we are lowering our 2023-2025 EPS estimates by 11-18%. Without compromising our Outperform recommendation due to an attractive valuation in relation to the long-term potential of the electricity markets in Finland and Sweden, we are adjusting our short-term estimates to more accurately factor in recent energy price trends in the Nordic mark...Fortum is an energy company. Co.'s operations are organised in five divisions: Hydro Power and Technology and Nuclear and Thermal Power, which are engaged in its hydro, nuclear and thermal power generation, services, portfolio management and trading as well as technology and research and development functions; Heat, Electricity Sales and Solutions, which consists of Co.'s combined heat and power production, district heating and business-to-business heating solutions, solar business, electricity sales and related customer offering; Russia, which consists of power and heat generation as well as heat distribution in Russia; and Distribution, which focuses on distribution activities in Sweden.
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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