Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Naturgy : Une communication minimaliste, sans indication de guidance pour 2020

>Recommandation Neutre maintenue et OC ajusté à 17.2 € - Le groupe a publié des performances au T1 2020 un peu supérieures à nos attentes. Toutefois lors de la conférence téléphonique, le management n’a pas souhaité se prêter au jeu de la délivrance d’une trajectoire 2020, se contentant d’indiquer qu’il reviendra vers les investisseurs en cas d’amélioration de sa visibilité. Pour Naturgy, les activités gazières font face à trop d’incertitudes pour être, à ce stade, ai...
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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