Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Iberdrola : Improving with each quarter and should meet 2018 guidance

>Recommendation and target price maintained - 9M 2018 performances were exactly in line with our expectations and a shade above those of the consensus. Guidance, which was revised up at the time of the Q1 2018 publication, has been confirmed, with a solid message regarding an outperformance at the operational level in Q4 vs 9M 2018. This publication once again underlines, Iberdrola’s strategic foresight in the utilities segment, with relevant industrial choices undert...
Underlying
Iberdrola SA

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.

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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