Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - RBC Capital downgraded Endesa (BME:ELE), S.A. (BME:ELE) (OTC:ELEZY) from Outperform to Sector Perform and reduced its price target to EUR26.50 from EUR28.50 on Monday.
The downgrade follows Endesa’s strong performance over the past year, during which the company outperformed other European utilities with a 13% gain compared to the SX6P Index.
RBC Capital cited three key factors that previously supported its positive outlook for Endesa but are now "proving more difficult" to materialize.
These factors included improved Spanish network returns leading to increased network investments, Endesa being the main beneficiary of possible nuclear useful life extension in Spain, and expectations that Endesa would exceed its 2025 net income guidance after beating projections in 2024.
Endesa is a Spanish multinational electric utility company that generates, distributes, and sells electricity primarily in Spain and Portugal.
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