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Investing.com - EDP has been reiterated as a "buy" by Kepler Cheuvreux with a price target of 4.9 euros, highlighting the stock’s 10% discount to the value of its existing operations.
The recommendation comes as the utilities and clean energy sector enjoys a strong performance in 2025, with Kepler Cheuvreux’s tracked universe of more than 50 stocks up nearly 20% year-to-date. The firm’s top picks for 2025 have gained between 20-50%, with the exception of Redeia, which was removed from its recommendation list in late July due to unattractive proposed regulations.
Kepler Cheuvreux also upgraded Orsted to "buy" last week with a price target of 140 Danish krone, noting the company trades at a substantial 25% discount that appears to price in much of the remaining risk as it transitions from a pure developer to more of a developing operator. ERG was highlighted with a "buy" rating and 27-euro target price, trading at a 15% discount.
By contrast, the firm expressed caution on Acciona, RWE, Acciona Energia, and EDPR despite their 30-75% year-to-date gains, suggesting these stocks would require valuation levels beyond their current business plans. From a longer-term perspective, Kepler Cheuvreux indicated these valuations could signal "bubble territory."
The clean energy segment is finally rebounding after what the firm described as "years of pain," with Kepler Cheuvreux recommending investors focus specifically on names trading at a discount to the value of their existing and business plan operations.
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