SSE PLC

SSE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 1,228.00	Kyx	Mpzdkdqjz

SSE: Trading in Line With Expectations; Shares Undervalued

Tancrede Fulop

Jul 18, 2024

We confirm our GBX 2,250 fair value estimate for no-moat SSE after it released its trading statement for the first quarter of fiscal 2025. Operating performance is in line with the firm's expectations. Accordingly, the directional divisional guidance for fiscal 2025 set last May is confirmed. Shares are undervalued.

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