Endesa downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Jose Ruiz downgraded Endesa to Equal Weight from Overweight with a price target of EUR 21.50, down from EUR 22.10. The analyst thinks the current share price discounts full value of its retail activities, which have been benefiting from declining spot prices. The firm also cut the price target to reflect a lower valuation of Endesa’s renewables pipeline.