UBS believes that the 2024-2028 outlook is stronger than expected. The analyst confirms his Buy recommendation on the share, with a price target of E14, representing a potential upside of 19%.

' The 2028E EBITDA target of E1 billion is ahead of expectations. The 5-year investment plan has been improved by 27%. Over the period 2023-2028, e.on is targeting an underlying EBITDA CAGR of 7% and an EPS CAGR of 6% ' stresses UBS.

' Large-scale mergers and acquisitions seem out of the question' adds the analyst firm.

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