Enel shares: price firmer - analysts disagree about further developments

Enel shares: price firmer - analysts disagree about further developments

According to a report by m.ariva.de,

The Enel share certificate (Enel share) is trading somewhat higher today. The most recent price was 6.27 euros. A share price increase of 6 cents is currently pleasing Enel shareholders. On the stock market, investors currently pay 6.27 euros for the paper. Compared to the overall market, Enel's securities are doing well. The Euro Stoxx 50 (Euro Stoxx 50) is currently up 0.69 percent compared to the last quote on the previous trading day and comes to 4,671 points. The Enel share recorded its highest price to date on January 13, 2021. At that time, the security cost 9.06 euros, i.e. 2.79 euros more than currently.

The Enel company

Enel SpA operates worldwide as an integrated electricity and gas operator. The company generates, distributes, transmits and sells electricity, transports and markets natural gas, supplies liquefied natural gas and other fuels, and builds and operates generation plants and distribution networks. The company also offers charging infrastructure for electric vehicles for public and private customers and is active in the field of energy raw materials.

This is how analysts see Enel shares

Enel shares are followed by several analysts.

The analysis house Jefferies has downgraded Enel from “Buy” to “Hold” and lowered the price target from 7.00 to 6.50 euros. The new management presented a sensible business plan at the capital market day with an attractive dividend, wrote analyst Ahmed Farman in a study available on Thursday. However, he is less convinced by developments beyond 2024 given the rapidly falling European electricity prices. In the short term, he sees no drivers for a more significant price increase.

The major Swiss bank UBS has left the rating for Enel at “Buy” with a price target of 7.55 euros. In an industry study available on Monday, analyst Mark Freshney emphasized his continued positive assessment of renewable energy providers. However, he sees integrated energy companies such as Enel and Iberdrola as a better opportunity to take advantage of this trend in conjunction with investment growth in the electricity networks, the expert wrote.