Endesa’s shares, who played new yesterday Intradiaries at 26.87 eurostoday they are among the most penalized of Ibex 35, with a mid -afternoon decrease of 3.64% to 25.67 euros.
The titles receive the blow of a cut of recommendation of Goldman Sachswhich passes from a advice from ‘neutral’ to one of ‘sell‘. Although they improve the target price to the 26 euros per actionfrom the previous 23.50 euros, the valuation is significantly below yesterday’s closure (26.64 euros).
Goldman Sachs analysts base their decision on the expectation that the recent cycle of improvements in the company’s results is coming to an end. The firm expects 2026 to mark the company’s benefits peak, since the standardization of energy prices and the decrease in retail margins will ballast the profits.
Thus, it provides that energy prices in Spain will decrease to approximately 55 euros/MWh, driven by the decrease in gas prices and increased renewable production. Given Endesa’s high exposure to generation with fixed costs, each drop of 10 euros/MWh could reduce the benefits by 300 million euros, according to the report.
Endesa’s actions accumulate A strong revaluation of 49% in the last 12 monthsusing the 17.23 reference that played on May 8 of last year. The truth is that not only Goldman Sachs seems to think that he has no more margin of improvement. According to the data collected by Reuters, on average the analysts that cover Endesa give a advice to ‘maintain’ and an average target price of 25.01 euros that are below its current contribution.