The analysts of Erste Group have cut the price target for the papers of the domestic utility Verbund from EUR 46.00 to EUR 41.20 and at the same time confirmed the “Reduce” recommendation. Analyst Petr Bartek explained the lowering of the price target, among other things, with downward revised electricity prices and increased operating expenses (OPEX).
The earnings forecasts were also lowered. For 2020, Erste Group expects earnings per share of 1.60 (previously: 1.80) euros, for 2021 it is now 1.58 (previously: 1.98) euros and for 2022 the estimate is 2.01 ( previously 2.54) euros.
The expectations for the distribution have also been cut. The forecast for the dividend is 0.72 (previously: 0.81) euros for 2020, 0.79 (previously: 1.98 euros) for 2021 and 1.01 (previously 2.54) euros for 2022.
On Friday morning, the Verbund shares were listed on the Vienna Stock Exchange with a premium of 2.27 percent to 45.14 euros.
Analyzing institute Erste Group
Note: Information on the obligation to disclose in the event of conflicts of interest within the meaning of Directive 2014/57 / EU and corresponding EU regulations for the aforementioned analyst house can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html. (The published web links are taken over unchanged from the dpa-AFX website.)
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ISIN AT0000746409 WEB http://www.verbund.com
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