Robert Pulleyn, an analyst from Morgan Stanley, maintained the Hold rating on Naturgy Energy Group, S.A.. The associated price target remains the same with €28.00.
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Robert Pulleyn’s rating is based on Naturgy Energy Group’s recent financial performance and future guidance. The company’s third-quarter results were in line with expectations, showing a stable EBITDA and net income that matched consensus estimates. However, the performance of the renewables division was weaker than anticipated due to lower wind and hydro output, which was offset by stronger results in the networks and energy markets divisions.
Despite maintaining its guidance for fiscal year 2025, which suggests a 5% year-over-year growth, the company’s future performance heavily relies on the fourth quarter results. The revision of net debt guidance to a lower level indicates a positive financial adjustment, yet the overall market reaction is expected to be neutral. These factors combined lead to a Hold rating, as the potential for significant upside seems limited at this time.
According to TipRanks, Pulleyn is a 3-star analyst with an average return of 2.1% and a 53.21% success rate. Pulleyn covers the Utilities sector, focusing on stocks such as Endesa SA, Enel S.p.A., and Naturgy Energy Group, S.A..