EDP Renovaveis SA

EDPR: XLIS (PRT)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€59.00	Mfdjy	Xfhmlyth

EDP Renovaveis Earnings: Below Expectations; 2024 Guidance Cut; Shares Undervalued

Tancrede Fulop

Feb 29, 2024

We are maintaining our fair value estimate of EUR 21 for no-moat EDP Renovaveis as we roll our model to incorporate 2023 results released by the company that were below FactSet consensus. Guidance for 2024 was cut below expectations. That should still leave decent upside to the current depressed share price.

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