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Investing.com - Berenberg has reiterated its Buy rating and €42.00 price target on RWE AG (ETR:RWE) (OTC:RWEOY) following the company’s Amprion joint venture with Apollo Global Management.
The joint venture includes a €3.2 billion cash injection from Apollo that unlocks approximately €2.6 billion of debt headroom for RWE, according to Berenberg. This additional headroom will fund future investments in Amprion while reducing RWE’s net interest costs in the near term.
Berenberg increased its earnings per share (EPS) forecasts for RWE by an average of 1% for 2026-2030 and continues to view the company’s €3 and €4 per share EPS targets for 2027 and 2030, respectively, as achievable. The firm forecasts a 14% EPS compound annual growth rate (CAGR) for RWE from 2025 to 2030.
The research firm highlighted that RWE’s growth trajectory is supported by its flexibility in capital allocation, noting the company can mitigate any deterioration in expected returns on future uncommitted capital expenditure by substituting budgeted investment with additional share buybacks.
RWE remains Berenberg’s top sector pick, with the firm maintaining its €42 price target on the stock.
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