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european utilities face earnings decline amid changing power prices and investments
The LNG market is set to increase supply, particularly from the US, with a projected 15% rise in production. European utilities are expected to see a 3% EBITDA decrease in 2024, with a further 2% decline in 2025, while pure grid operators will benefit from a 6% EBITDA growth due to supportive regulatory frameworks and expanding asset bases.
ubs maintains buy rating on eon with target price of 16.20 euros
UBS has maintained a "Buy" rating on Eon with a target price of 16.20 euros. Analyst Mark Freshney noted that the European utility sector has lagged behind the market due to rising bond yields and concerns over capital needs, despite stable earnings momentum and low valuations that suggest growth potential. Freshney's top picks include Iberdrola, Eon, National Grid, and SSE, while he holds a negative outlook on Severn Trent, Uniper, and Verbund.
Sell ratings for A.P. Moller - Maersk A/S are increasing due to concerns over shipping market oversupply. Morgan Stanley issued its 10th sell-equivalent rating, downgrading the stock to underweight from equalweight. Only two companies in the Stoxx Europe 600 index have more bearish ratings.
Erwin Hameseder named Austria's most important manager for second consecutive year
Erwin Hameseder, Chairman of Raiffeisen Holding, has been named Austria's most important manager for the second consecutive year, according to Industriemagazin's annual ranking. Hameseder, who has led Raiffeisen-Holding Niederösterreich-Wien since 2012, is recognized for his extensive networking and vision for European independence.Following him are Verbund CEO Michael Strugl in second place and UNIQA CEO Andreas Brandstetter in third, noted for his impactful withdrawal from Russia. Infineon CEO Sabine Herlitschka remains the highest-ranked woman at fourth, with OMV CEO Alfred Stern close behind.
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