(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ opinion on E.ON while raising its price target from 13.5 to 14 euros, the day after the publication by the German energy group of first quarter results higher than expectations.
Believing that part of the performance of the first quarter will be retained by the company, the research department raises its estimates accordingly, from 12% on EPS to 1.04 euros in 2023 and from 5% to 0.98 and 0.96 euro respectively the following years.
‘At current levels, E.ON remains discounted compared to its peers while posting one of the most attractive Price/CF ratios in the sector for a sustained growth profile at the level of EBITDA’, further judges the analyst.
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