RWE : A judicious repositioning
Listed renewable energy assets have seen a re-rating of their multiples over the past three months, a trend from which RWE has partly benefited. Whilst legal uncertainty concerning the exit from coal and lignite now seems to be behind us, we think that the re-rating potential of renewables and gas assets should be integrated. In this context, we are revising up our target price from € 24.5 to € 33.0 and our recommendation to Buy vs Neutral. - >An ambitious strategy for ren...RWE is an electricity and gas company. The Conventional Power Generation segment consists of the activities of RWE Power, Essent and RWE npower. The Supply/Distribution Networks Germany segment supplies electricity, gas and heat. The Supply Netherlands/Belgium segment comprises the activities of Essent in the Netherlands. The Supply United Kingdom segment comprises the operations of RWE npower. The Central Eastern and South Eastern European segment contains activities in the Czech Republic, Hungary, Poland, Slovakia, Turkey and Croatia. The Renewables, Upstream Gas & Oil and Trading/Gas Midstream segments include the activities of RWE Innogy, RWE Dea and RWE Supply & Trading, respectively.
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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