Naturgy : 9M 2024 results slightly above our forecasts and 2024 guidance confirmed
>Neutral opinion and target price of € 24.9 unchanged - Naturgy has communicated to the market partial information on its performance to the end of September, namely EBITDA and net profit. The group confirmed its 2024 results trajectory with which we are already aligned, but edged down its capex budget (-7.6%) and its final net debt figure (-1.5%). After updating market data, our target price is unchanged at € 24.7, still based on the average of a DCF (€ 22.0 with a W...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).
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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