Oddo BHF has raised its opinion on Française de l'Energie (FDE) from 'neutral' to 'outperform', in view of the significant upside potential offered by its price target, which has been lowered from 61 to 53 euros.

The research firm says it has revised its estimates for the company over the 2023-2026 period by an average of -15%, 'given the administrative delays in obtaining operating permits for new cogeneration plants'.

'The short- and medium-term momentum in gas and electricity prices remains very favorable, despite the risk of a cap. The current price and valuation of FDE offer, in our opinion, a good entry point', he nevertheless believes.

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