Naturgy : No more de-merger, but no 2024 guidance as yet
>Neutral rating unchanged but target price adjusted to € 24.9 (vs € 27.5) - Following the release of the 2023 results, which were in line with our expectations, we are sticking with our Neutral rating on the stock. The management confirmed that the “Gemini” de-merger project has been postponed until further notice. The group declined to provide 2024 guidance other than qualitative indications given the current volatility of its markets. The management should come bac...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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