Naturgy : A limited communication, with no indication on guidance for 2020
>Neutral recommendation maintained and target price adjusted to € 17.2 - The group has reported a Q1 2020 performance that came in a shade above our forecasts. However, at the conference call management declined to provide information on a 2020 trajectory, simply indicating that it would come back to investors once visibility has improved. For Naturgy, the gas activities are facing too many uncertainties, at this stage, to be easily modelled. Against this backdrop, we...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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