EDP Renovaveis SA
EDPR: XLIS (PRT)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€57.00 | Pznzv | Xdxfjvz |
EDP Renovaveis Earnings: Boosted by Asset Rotation Gains; Shares Undervalued
No-moat EDP Renovaveis released third-quarter results that were above company-compiled consensus on the bottom line. We maintain our EUR 21 fair value estimate. The shares have been excessively sold off because of rising interest rates. We believe the market neglects supporting factors like high power purchase agreement prices, declining construction costs for solar, and attractive pricing of asset rotations.