Redeia Corporacion SA
RED: XMAD (ESP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€18.30 | Yjfkc | Ryvyhfj |
Redeia Earnings: Hit by Pre-1998 Assets; 2024 Guidance Confirmed; Shares Cheap
We confirm our EUR 16.50 fair value estimate after no-moat Redeia released first-quarter results, which were hit by the end of the remuneration of transmission assets commissioned before 1998, as expected. Guidance for 2024 was confirmed. Shares look undervalued.