Naturgy : Q1 2021 figures ahead of expectations, but relative optimism on 2021
>Neutral recommendation maintained, but target price adjusted to € 23.0 (vs € 21.0) - Restated for the retroactive deconsolidation of the electricity transmission and distribution activities in Chile being sold to the Chinese group China State Grid, results Q1 2021 topped our expectations and those of the consensus. The return to more normal energy markets and the upward trend in gas and electricity prices could not, however, offset the negative impact of South Americ...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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