We are reaffirming our fair value estimate of $16.25 per ADR share and our stable, narrow moat ratings for CPFL Energia after the company reported third-quarter net income of BRL 390 million, up from BRL 269 million in the same year-ago period. Load growth was strong in the quarter, up more than 4% in the concession area. Contracted demand pulled back, with off-peak and peak demand down about 1% each. CPFL Energia invested BRL 544 million in the quarter, with most going to renewable energy proj...
We are reaffirming our fair value estimate of $16.25 per ADR share and our stable, narrow moat ratings for CPFL Energia after the company reported third-quarter net income of BRL 390 million, up from BRL 269 million in the same year-ago period. Load growth was strong in the quarter, up more than 4% in the concession area. Contracted demand pulled back, with off-peak and peak demand down about 1% each. CPFL Energia invested BRL 544 million in the quarter, with most going to renewable energy proj...
We are reaffirming our fair value estimate of $16.25 per ADR share and our stable, narrow moat rating for CPFL Energia after the company reported second-quarter adjusted net income of BRL 123 million, down from BRL 240 million in the year-ago period. While economic headwinds appeared to ease in the first quarter, CPFL Energia experienced weakness in the second quarter with contracted load declines of 1.2% during off peak and 2.1% during peak. Performance in the company's expanding renewable o...
We are reaffirming our fair value estimate of $16.25 per ADR share and our stable, narrow moat rating for CPFL Energia after the company reported second-quarter adjusted net income of BRL 123 million, down from BRL 240 million in the year-ago period. While economic headwinds appeared to ease in the first quarter, CPFL Energia experienced weakness in the second quarter with contracted load declines of 1.2% during off peak and 2.1% during peak. Performance in the company's expanding renewable o...
We are reaffirming our fair value estimate of $16.25 per ADR share and our stable, narrow moat rating for CPFL Energia after the company reported first-quarter adjusted net income of BRL 232 million, flat with the year-ago period. Economic headwinds appear to have eased, with load declines of just 0.4% compared with materially higher loss in 2016. Performance in the company's expanding renewable energy operations boosted results, with CPFL announcing the launch of a residential distributed sola...
We are increasing our fair value estimate to $16.25 per ADR share from $10 after the company disclosed that the State Grid Brazil, a wholly owned subsidiary of State Grid Corporation of China, had successfully tendered BRL 14.2 billion in shares at approximately $16.25 per share to majority state pension fundholders and industrial companies. State Grid Brazil now is the controlling shareholder of CPFL Energia, with a 55% stake. State Grid Brazil shareholders will now tender minority shareholders...
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
We are reaffirming our fair value estimate of $10 per ADR share and our stable, narrow moat ratings for CPFL Energia after the company reported second-quarter adjusted net income of BRL 235 million compared with BRL 312 million in the year-ago period. Economic headwinds continued to stress CPFL Energia's results, with load in the company's main concession area down 2.3%. Performance in the company's expanding renewable operations boosted results. The takeover by State Grid Corporation of China...
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