Iberdrola : Q1 2021 in line, profitable growth is the watchword
>Outperform rating and target price of € 12.80 maintained - The Q1 2021 results publication, which was in line with our estimates, confirmed the group’s strategic trajectory. At the conference call, management delivered a message of confidence based on a significant effort in the development of renewable capacity and continued growth in distribution networks. On this basis, we maintain our Outperform recommendation and target price of € 12.8, based on an average betwe...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.
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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