Aggiornato al 15 maggio 2018
|Società||Analista||data ultime note/ricerca||Raccomandazione||Commento*|
||'"......In terms of valuation, <7x EV/EBITDA continues to look attractive for a company that has c.80% EBITDA in regulated activities, a very decent balance sheet and the possibility to expand its core business, while maintaining a good dividend.."
||'"ACEA is implementing its business plan, with an increase in capex (EUR133m in Q1, or up 5% YOY) and in regulated growth. With +7% YOY growth in EBITDA (up to EUR229m), it registered the highest quarterly growth among Italian local utilities."|
|Banca IMI Gruppo Intesa SanPaolo
||Inti Merino Rimini
||11/05/2018||Add||'"The results indicated a solid trend and are in line with the business plan, also as regards investments..."
||'"We judge 1Q18 results positively and we have confirmed our FY2018 estimates."
||11/05/2018||Hold||'"...... Acea posted increasing results YoY. In our view, the results are already factored in the current market prices and thus investors’ attention is on the NWC dynamic....."
||Outperform||'"Q1 results were better than expected and they hjghlighted that Acea is on track in NWC normalilzation...."
|Banca Akros||29/11/2017||Neutral||".....For sure, this business plan is a clear sign of discontinuity vs. the past. We have factored-in the new strategic guidelines, slightly improving our previous estimates."
* commento estrapolato da studi più approfonditi.