China smartphone shipments slumped in June on inventory overhang: Jefferies
On Thursday, Deutsche Bank (ETR:DBKGn)’s analysts increased their price target on E.ON SE (ETR:EONGn) (EOAN:GR) (OTC:EONGY) shares to EUR15.50, up from the previous EUR14.00, while maintaining a Buy rating on the stock. The revision follows E.ON’s announcement of robust first-quarter results, which showed an 18% year-over-year rise in EBITDA and a 22% increase in net income.
The Q1 net income of E.ON was approximately in line with Deutsche Bank’s projections but was around 7% higher than the consensus forecast. Despite the strong quarter, E.ON has chosen to reiterate its full-year guidance, attributing the Q1 performance to a return to more typical seasonal patterns. Deutsche Bank analysts have slightly adjusted their full-year estimates upward, positioning them toward the upper end of the company’s own guidance range.
According to the report, E.ON’s first-quarter results account for 33% of the forecasted full-year EBITDA and 43% of the net income. This distribution reflects a pattern observed in previous years, where the first quarter often comprises a significant portion of the annual results. For instance, in both 2020 and 2023, E.ON’s first-quarter net income represented more than 40% of the full-year numbers.
The analysts at Deutsche Bank now expect E.ON’s full-year EBITDA to reach EUR9702 million, which is within the company’s guidance range of EUR9.6 to EUR9.8 billion and above the Vara consensus of EUR9643 million. They also forecast earnings per share (EPS) of 115 cents, which is at the high end of E.ON’s guidance of 109 to 117 cents and slightly above the consensus estimate of 113 cents.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.