Stifel confirms its 'hold' recommendation and €35 price target on RWE, after the German energy group confirmed that it is targeting the low end of its annual targets, despite better-than-expected first-half results.

"The production profile for the first half of 2024 looks more attractive: 45% of total production came from renewables, compared with 32% a year earlier, while coal's share of total revenues fell from 21% to 16%", the broker points out.

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