(AOF) – UBS maintains its Buy recommendation on Engie with a price target that goes from 15.5 to 15 euros. The analyst explains his decision: “Despite last year’s turbulence in the gas value chain in Europe, Engie achieved a performance of more than 10%, among the best performers in the sector. And the shares remain among the cheaper in the sector in terms of valuation. However, some risks weigh on the results for the year such as raw materials which have weakened”.
UBS expects “an update to Engie’s 2023-25 forecast in the face of many uncertainties: commodity prices, inflation, business performance, calendar effects in the networks (related to reduction in gas demand) are all difficult to predict.