BNP Paribas has strengthened coverage of two EDP companies listed on the national stock exchange, despite the fact that in both cases the recommendation and target price remained unchanged.
EDP Renováveis was already at its peak in the sector in Europe. But in the meantime, his variation lost some strength and was replaced in this position by the EDP.
In the case of EDP Renováveis, which rose 3.92% on Monday to EUR 22.80 per share, the French investment bank retained its “outperform” recommendation, which is in line with the “buy” level for the shares. The target price remained unchanged at 23 euros per share, which gives a potential yield of 1.3% compared to the close on Friday. The company, whose shares have not gained as much in the middle of the trading session since August 31, is actively managing its wind energy portfolio. Last week it was announced sale 12% more from a wind power capital of 405 megawatts, which he held in the United States, to the British fund Greencoat Capital, to which he has already sold 68% of his portfolio. Also in the same period rforced his presence in Chile with a new business four months after entering the country.
The investment house also strengthened its “buy” recommendation for parent company EDP, setting a target price of 5.30 euros per share, which gives a potential return of 10.8% compared to the close of the last session.
More than 1.3 million shares have been sold to date, compared to the average of 6 million shares that have traded daily over the past six months.
Last week EDP he refinanced himself with long-term green debt. Electric has closed a € 1.250 million 60.5-year hybrid bond with two early redemption options. Strong demand led to a downward revision of the interest rate during the day, the rate closed at the lowest level for the company’s hybrid issue.
After doing one more operation, EDP owns over 40% of green debt. Today, shares in the company led by Miguel Stevell are up 2.63% to 4.792 euros.
Note: The news is not complete without consulting a “research” note issued by an investment house, which can be requested from the same one. Negocios warns of the possibility of a conflict of interest in some investment banks in relation to the analyzed listed company, for example, about participation in its capital. To make an investment decision, you should read the full research note and consult with your financial intermediary.
