Oddo BHF - Morning CrÃ©dit 03/04/2018

Report

Oddo BHF

Carole Braudeau

Morning CrÃ©dit 03/04/2018

Auchan et Casino entament des nÃ©gociations exclusives en vue de bÃ¢tir un partenariat stratÃ©gique mondial pour leurs achats alimentaires et non-alimentaires.Deux sociÃ©tÃ©s US auraient fait part de leur intÃ©rÃªt pour racheter les 29.9% de Cellnex quâ€™Atlantia revendra selon El Economista.>

03/04/2018 15 FR

Provider

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.

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Analysts

Carole Braudeau

Other Reports from Oddo BHF

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ODDO : Engie & Grenergy : deux belles options pour jouer le stockage à grande échelle

Le stockage à grande échelle par batteries émerge comme une solution économique et rentable pour répondre aux besoins croissants de flexibilité des réseaux et à la problématique de la cannibalisation des prix liés à l’essor des énergies renouvelables intermittentes. Sur la base du plan de Capex estimé, nous sélectionnons Engie (Surperformance et OC à 22.5 €) dans le segment des Utilities intégrées et Grenergy (Surperformance, OC 90 € vs 81 €) dans celui des IPP pour s’exposer à cette thématique. Nous conservons notre recommandation Surperformance sur RWE avec un OC relevé à 45 € vs 39 € ainsi...

11h / 3m 11h / 3m 1 FR

Anis Zgaya ... (+3)

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Louis Boujard
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ODDO : Engie & Grenergy: two great options for large-scale storage

Large-scale battery storage is emerging as a cost-effective and profitable solution to the growing need for grid flexibility and the problem of price cannibalisation caused by the rise of intermittent renewable energies.. Based on the percentage of the estimated capex plan, we select Engie (Outperform and target price at € 22.5) in the integrated utilities segment and Grenergy (Outperform, target price € 90 vs € 81) in the IPP segment to gain exposure to this theme. We maintain our Outperformance recommendation on RWE with a target price raised to € 45 vs€ 39 and leaving our Outperform recomme...

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Rok Stibric

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PZU : Rating upgrade driven by strong operational momentum and clear strategy

PZU continues to execute well on its 2025-2027 strategic targets, with improving non-life profitability and expanding life and health business segments. Positive trends should drive the EPS growth of 5.7% CAGR, just below the AT&CEE average. The stock offers the highest DY in our sector coverage (8%+) and a superior ROE within the AT&CEE peer group. Our valuation analysis indicates 19% upside from current levels and triggers an upgrade of our rating to Outperform.

16h / 21m 16h / 21m 1 EN

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Morning CrÃ©dit 03/04/2018

ODDO : Engie & Grenergy : deux belles options pour jouer le stockage à grande échelle

ODDO : Engie & Grenergy: two great options for large-scale storage

PZU : Rating upgrade driven by strong operational momentum and clear strategy

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