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Endesa re-launched with Neutral from Buy at Citi
The Fly

Endesa re-launched with Neutral from Buy at Citi

Citi analyst Jenny Ping re-launched coverage and downgraded Endesa to Neutral from Buy with a EUR 20 price target. The analyst sees profit and cash flow merits to having retail near term and sees signs of another challenging hydro year for European utilities. In the context of rising rates and capex demands, the firm prefers "simplification strategies that focus on improving balance sheets instead of an acquisitive one."

Published first on TheFly

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