Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Naturgy : 2018 récurrent un peu supérieur aux attentes, guidance 2019 en ligne

>Recommandation Neutre maintenue, mais OC ajusté à 23.0 € vs 21.0 € - Cette publication, un peu au-dessus des attentes sur l’opérationnel récurrent et troublée par les éléments non récurrents, ne remet pas en cause notre opinion sur le titre. Si les éléments stratégiques du plan 2022 se mettent en place à partir du T3 2018, il reste au management à accroître la lisibilité des tendances récurrentes sur les années à venir. Les guidances de 2019 sont en ligne avec nos e...
Underlying
Naturgy Energy Group S.A.

Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).

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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