Iberdrola : Still the best of the best!
>Buy recommendation and target price of € 11.20 maintained - The Q1 2020 results, which are a shade higher than our forecasts but broadly in line with the consensus, provided reassurance about the group’s capacity to maintain its strategic and financial trajectory thanks to its extremely resilient profile and organic growth. We are sticking with our target price of € 11.20 (average of SOTP at € 10.50 and DCF at € 11.9, WACC of 5.35% and a perpetual growth rate unchang...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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