Oddo BHF maintains its 'outperform' rating on Enel shares, with a price target lowered from 9.6 to 9.2 euros, based on the average of DCF (8.1 E) and NAV (10.40 E)

"The Group has published 2023 performance in line with consensus expectations", says the analyst, who adds that "as expected, performance is driven by the integrated generation (thermal generation) and trading activities".

While management has confirmed compliance with the 2024-2026 guidance issued last November, Oddo BHF maintains its estimates unchanged.

In the Group's strategic plan, the EBITDA guidance for 2024 is between E22.1 bn and E22.8 bn, and that for recurring EBIT before associates between E6.6 bn and E6.8 bn.

Our current estimates fall within this range, with an expected EBITDA of 22.45 billion euros and an NIpg of 6.7 billion euros', concludes Oddo BHF.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.