(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on the Engie share, with a price target reduced from 19 to 18.5 euros.
The analyst indicates that Engie and the Belgian government have reached an agreement for the extension of 2 nuclear reactors for another 10 years and above all for the transfer of the risk of long-term management of nuclear waste.
The agreement is based on the fixing of a lump sum of 15 MdsE.
‘In the medium term, the agreement will make it possible to release the assets held by Electrabel and which were the subject of a guarantee vis-à-vis the Belgian State for the coverage of nuclear liabilities’, emphasizes Oddo BHF.
Oddo BHF is now waiting for the next catalyst, namely the publication of the half-year results on July 28. And expects an increase in the 2023 guidance: “our estimates are on average 5% above the top of the 2023 guidance”, blows the broker.
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