RWE AG (NASDAQ:RWEOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $29.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.00% from the company’s current price.
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. “
A number of other research firms also recently issued reports on RWEOY. ValuEngine raised shares of RWE AG from a “buy” rating to a “strong-buy” rating in a report on Monday, August 7th. Deutsche Bank AG raised shares of RWE AG from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Berenberg Bank downgraded shares of RWE AG from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. UBS AG raised shares of RWE AG from a “sell” rating to a “neutral” rating in a research note on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) raised shares of RWE AG from a “neutral” rating to a “buy” rating in a research note on Thursday, June 8th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. RWE AG currently has an average rating of “Buy” and a consensus target price of $29.00.
Shares of RWE AG (NASDAQ:RWEOY) opened at 25.00 on Wednesday. RWE AG has a 12 month low of $11.55 and a 12 month high of $25.80. The firm has a 50 day moving average price of $23.18 and a 200-day moving average price of $19.38. The company’s market cap is $15.38 billion.
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RWE AG Company Profile
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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