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...
>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...
>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...
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...
‘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 ...
“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 (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. ...
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...
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...
>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 ...
>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 ...
>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...
>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...
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...
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 ...
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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