RWE AG (NASDAQ:RWEOY) Upgraded to Strong-Buy at Zacks Investment Research
RWE AG (NASDAQ:RWEOY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The brokerage presently has a $25.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.66% from the stock’s previous close.
According to Zacks, “RWE AG is among Europe’s five largest utilities. RWE is active in the generation and transmission as well as the sale and trading of electricity and gas. RWE is also active in the water business in Continental Europe. This integrated business model gives them a good position from which to take advantage of the rising demand for energy. RWE is the biggest power producer in Germany and No. 2 in the UK. RWE continues to expand its position in Central and South-Eastern Europe. Their comprehensive power plant portfolio and investment programme for the modernization and construction of new generation capacity are the basis for growing earnings in the future. RWE’s gas and oil production business is displaying above-average growth. In light of ever-higher global demand, RWE will steadily increase the share of gas it produces in-house. “
Several other equities analysts have also weighed in on RWEOY. Goldman Sachs Group, Inc. (The) raised RWE AG from a “neutral” rating to a “buy” rating in a report on Thursday, June 8th. ValuEngine raised RWE AG from a “buy” rating to a “strong-buy” rating in a report on Monday. Investec raised RWE AG from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. UBS AG raised RWE AG from a “sell” rating to a “neutral” rating in a report on Friday, July 7th. Finally, HSBC Holdings plc raised RWE AG from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.00.
Shares of RWE AG (NASDAQ RWEOY) opened at 22.39 on Thursday. RWE AG has a 12-month low of $11.55 and a 12-month high of $22.59. The firm’s market capitalization is $13.76 billion. The company’s 50-day moving average price is $20.76 and its 200 day moving average price is $17.64.
About RWE AG
RWE AG (RWE) is a holding company. The Company is a supplier of electricity and natural gas in Europe. The Company is engaged in production of lignite and electricity generation from gas, coal, nuclear and renewables, to energy trading and distribution, and the supply of electricity, gas and other solutions.
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