Iberdrola : The benchmark!
>Outperform recommendation reiterated and target price of € 13.8 confirmed - 9M 2023 results are broadly in line with our expectations and those of the consensus. The operating performance was buoyed by significantly more favourable operating conditions in generation. For the third time, the group has revised upwards its 2023 recurring net profit growth estimate to “double digit” from “high single digit”. Consequently, we have marginally adjusted our model, with EPS u...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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