BoAML reinstate coverage on EDPR at Buy with TP of €11.60/share. The broker expects EDPR to beat guidance on disposals and debt costs.
Barclays initiate coverage with an Equal Weight rating and a PT of €10.00. The broker is optimistic on the future of offshore wind along with EDPR’s strategy based on organic growth.
BBVA slightly increased EDPR's target price from €8.10 to €8.12 and mantained the Market Perform recommendation.
Berenberg maintains the Hold recommendation and respective price target, saying that the share is dominated by China Three Gorges's interest.
Bernstein's TP of €11.00 is backed by EDPR’s acceleration of growth and continuous stream of capital gains, that according to the broker, are not yet reflected in the share price.
BPI updated its model on the back of capacity awarded and capital gains expectations. It downgrades EDPR to Neutral based on the positive performance of the stock, with limited fundamental upside according to the broker.
Caixa BI with Neutral recommendation and price target of €8.35.
Exane BNPP increased its price target from €9.90 to €10.90 based in a more aggressive Sell-down scenario.
Fidentiis has resumed its coverage of EDPR with a Hold rating and target price of €8.20, explained by the projected "timid growth" in earnings.
The broker praises the fact that EDPR has more than 100% of the 2020 plan secured and thus upgrades both price target and recommendation to €10.00 and Buy, respectively.
The price target increased to €9.00 comes from the incorporation in the J.P.Morgan's model of the FY2018 results and the EDP Group Strategic Update targets to the 2019-22 period.
The broker maintains the recommendation and increases the price target to €10.30 (upside of 16%), highlighting the "rather attractive" risk/reward profile of EDPR.
Macquarie reiterates the Neutral recommendation but increases the target price by 16% to €9.16, as the broker sees "further opportunities of value realization at EDPR".
Valuation increased to €11.00 as EDPR is on track to delivering on growth, with c.50% of BP’s capacity secured, diversifying its asset base and continue signing long-term contracts.
Natixis increased the price target from €6.90 to €7.00 and maintains Neutral recommendation. The broker updated its estimates based on EDPR’s annual results as well as new market developments in Europe.
RBC maintains their Outperform rating and increase their PT to €11.00 backed by a lower cost of capital, supported by lower regulatory risk in Portugal. The broker believes EDPR delivers a highly efficient portfolio of renewable assets, with a clear platform for growth and strong cash flow generation.
The broker maintains recommendation but decreases price target to € 9.75, due to the removal of the M&A premium, included in the previous TP.
Société Générale upgrades EDPR to Buy (from Hold) with a new target price of €10.00 as the broker believes that "the new plan will unlock a lot of value".
The broker updated its estimates, including future growth of capacity secured or under construction and better than expected wind factors. The broker increased the price target from €8.00 to €10.00 and maintains Buy recommendation.