Iberdrola : How far can it go?
>Neutral recommendation maintained, 2020-2022 estimates raised and a new target price of € 10.5 to € 8.6 - The group has published 2019 results that were broadly in line with our expectations and those of the consensus. Guidance for 2020 has been raised as is the case for 2021 and 2022. The group now forecasts earnings growth in the “high single digits†vs “mid single digits†previously. Management is to present its new updated strategic plan on 13 May. Pending this p...Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.
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