Zacks Investment Research upgraded shares of RWE (OTCMKTS:RWEOY) from a strong sell rating to a strong-buy rating in a research note released on Wednesday. Zacks Investment Research currently has $28.00 price target on the utilities provider’s stock.
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 equities research analysts have also commented on the company. HSBC reaffirmed a hold rating on shares of RWE in a research report on Tuesday, February 20th. UBS raised RWE from a neutral rating to a buy rating in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $28.00.
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RWE 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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