HSBC maintains its 'buy' recommendation on E.ON shares with a target price raised from €16.4 to €17.7, judging that its Q1 results 'confirm the attractive growth' and low risk of the German energy group.

'In the networks, we are modeling a regulated asset base with average annual growth of around 9% through 2028, with continued strong growth beyond that,"  the broker said after its results, which were slightly above its expectations.

While it has not significantly changed its earnings estimates, HSBC believes that German regulatory catalysts in the coming months could unlock investments more quickly and thus boost growth.


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