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EDP S.A.: 1 director

A director at EDP S.A. sold 14,225 shares at 3.115EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP : 9M 2024 better than expected, 2024 guidance reiterated pending t...

>Outperform rating and € 5.95 TP reiterated - The group confirmed its 2024 trajectory after releasing its 9M 2024 results, which came out higher than we and the consensus expected thanks to resilience shown by the low-carbon production and networks activities. We remain at Outperform. Not only are EDP’s fundamentals recovering, which should boost its share price, we also think that it is currently a possible takeover target for a group looking to beef up or take up po...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP : Un 9M 24 supérieur aux attentes, une guidance 2024 réitérée en a...

>Opinion Surperformance et OC à 5.95 € maintenus - A l’issue de la publication des résultats du 9M 2024, qui sont ressortis au -dessus de nos attentes et de celles du consensus, portés sur une base résiliente par les activités de production décarbonées et les réseaux, le groupe a confirmé sa trajectoire 2024. Nous conservons notre opinion Surperformance. Outre le redressement de ses fondamentaux qui devrait soutenir une revalorisation, EDP demeure toujours, à nos yeux...

Nicolas David
  • Nicolas David

ODDO : Iberian Forum – Day 1

We host our 4th ODDO BHF Iberian Forum on the 1st and 2nd of October 2024 virtually. In total, 63 companies will be presenting. In the following note, we provide some initial feedback of the company on day 1. - >Acciona (=) : Confidence in Non-energy business steady, Acciona Energía stake sparks intense scrutiny - Acciona Energia (=/-) : A trajectory beyond 2024 to be explained at the 9 months results - Acerinox (=/-): Softness persists in Europe and US - Amadeus (=/+): sol...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO : A gradual weaning

‘Soft landing’... the term is in vogue and we think it aptly describes the current situation in the energy market. After a period of “excess profits”, the fundamentals are back in favour and prompt us to revise down our estimates for energy prices. - Alongside renewable energies, pockets of sustainable value creation are emerging for players capable of capitalising on the structural growth in volatility on the electricity markets but which are nonetheless trading at a discount In ...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO : Un sevrage dans la douceur

“Soft landing”… le terme est à la mode et nous pensons qu’il caractérise bien la situation du marché de l’énergie aujourd’hui. Après une parenthèse de « surprofits », les fondamentaux reprennent leur droit et nous conduisent à réviser en baisse nos hypothèses de prix de l’énergie. A côté du renouvelable, des poches pérennes de création de valeur apparaissent pour les acteurs capables de profiter de la croissance structurelle de la volatilité des marchés électriques et qui souffre...

Moody's Ratings assigns Ba1 rating to EDP's hybrid instrument

Moody's Ratings (Moody's) has today assigned a Ba1 long term rating to the proposed Fixed to Reset rate Junior Subordinated Instrument (the junior subordinated "Hybrid") to be issued by EDP, S.A. ("EDP"). The size and completion of the Hybrid are subject to market conditions. The outlook is stable. ...

Bruno Cavalier ... (+4)
  • Bruno Cavalier
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/09/2024

At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...

Bruno Cavalier ... (+4)
  • Bruno Cavalier
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/09/2024

At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO : Curtailments in Brazil, limited impact on Iberdrola, Enel and E...

>Recap of the announcement made by Votalia on 20 August - On 20 August, Voltalia announced that the Brazilian transmission network operator was imposing a sizeable curtailment on some parts of the network which will impact group 2024 EBITDA to the tune of € 40m, if these measures to reduce inflow continue over the next few months and if the group is not compensated financially. The curtailment on production volumes for Voltalia in the northeast portion of the network ...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

ODDO : Les effacements au Brésil, peu d’impacts sur Iberdrola, Enel et...

>Rappel des faits annoncés par Voltalia le 20 août dernier - Le 20 août dernier, Voltalia a annoncé que l’opérateur du réseau de transmission brésilien impose actuellement des écrêtements prononcés dans certaines parties du réseau qui impacterait l’EBITDA 2024 du groupe à hauteur de 40 M€, si ces mesures de réduction d’injection se prolongeaient au cours des prochains mois et si le groupe n’était pas compensé financièrement. Le volume d’écrêtement de la production de ...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP : H1 2024 results ahead of forecasts and 2024 trajectory reiterate...

>Outperform opinion and target price of € 5.95 maintained - Following the release of H1 2024 results ahead of our forecasts and consensus estimates, driven on a resilient base by decarbonised production and network activities, the group confirmed its 2024 trajectory. We reiterate our Outperform opinion. As well as the recovery in its fundamentals, which should fuel a rerating, EDP remains in our view a possible target for a buyer wishing to expand in or enter renewabl...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

EDP : Un S1 24 supérieur aux attentes et une trajectoire 2024 réitérée

>Opinion Surperformance et OC à 5.95 € maintenus - A l’issue de la publication des résultats du S1 2024, qui sont ressortis au -dessus de nos attentes et de celles du consensus, portés sur une base résiliente par les activités de production décarbonées et les réseaux, le groupe a confirmé sa trajectoire 2024. Nous conservons notre opinion Surperformance. Outre le redressement de ses fondamentaux qui devrait soutenir une revalorisation, EDP demeure toujours, à nos yeux...

Farid Bitari ... (+4)
  • Farid Bitari
  • Ghada Ben Sedrine
  • Nicolas David
  • Stephane Houri

ODDO : Generative AI: a genuine revolution, pending the next revolutio...

Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doub...

IFX INFINEON TECHNOLOGIES AG
LRC LEGRAND
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE
Farid Bitari ... (+4)
  • Farid Bitari
  • Ghada Ben Sedrine
  • Nicolas David
  • Stephane Houri

ODDO : L’IA générative, une véritable révolution, en attendant la proc...

Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies ...

IFX INFINEON TECHNOLOGIES AG
LRC LEGRAND
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE

Moody's Ratings assigns Ba1 rating to EDP's hybrid instruments

Moody's Ratings (Moody's) has today assigned a Ba1 long-term rating to the proposed Fixed to Reset rate Subordinated Instruments (the junior subordinated "Hybrid") to be issued by EDP, S.A. ("EDP"). The size and completion of the Hybrid are subject to market conditions. The outlook is stable. RATI...

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