Enel: BofA upgrades stock

(CercleFinance.com) - BofA Global Research has upgraded Enel shares to 'buy', with a target price raised to E8.
30, believing that the Italian utility group has the recipe to offer Europe's most attractive share price in the integrated utilities sector.

Improved earnings quality, a lower cost of capital and low risk can help reduce a discount of over 20% to the sector in terms of P/E", the broker believes.

BofA also considers that a solid balance sheet gives Enel the opportunity to increase its EPS to 4%-8% above consensus, and maintains a dividend yield growing at over 7%.


Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.