Iberdrola SA

IBE: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€93.80	Qdchj	Drkcrbhk

Iberdrola Earnings: Guidance Raised on Positive One-Off in the Retail U.K. Business

Tancrede Fulop

Jul 27, 2023

No-moat Iberdrola released solid first-half results and raised its 2023 net profit growth guidance for the second time in a row thanks to a positive one-off in the U.K. We maintain our EUR 11.60 fair value estimate and currently view shares as fairly valued.

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