Zacks Investment Research Upgrades EDP-Energias de Portugal, S.A (EDPFY) to “Buy”

EDP-Energias de Portugal, S.A (OTCMKTS:EDPFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $43.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.13% from the company’s previous close.

According to Zacks, “Electricidade de Portugal, S.A. ranks among Europe’s major electricity operators, as well as being one of Portugal’s largest business groups. As a multidisciplinary organisation whose activities extend to such diverse areas as telecommunications and the internet, it presents itself as a natural and competitive participant in other business segments, such as gas, water and the provision of services in the engineering and information systems’ fields. “

Shares of EDP-Energias de Portugal, S.A (OTCMKTS:EDPFY) traded down $1.01 during trading on Wednesday, reaching $38.01. The company had a trading volume of 4,000 shares, compared to its average volume of 6,294. EDP-Energias de Portugal, S.A has a 52 week low of $29.99 and a 52 week high of $40.46. The company has a market capitalization of $14,267.82, a price-to-earnings ratio of 13.53, a PEG ratio of 8.88 and a beta of 0.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.06 and a current ratio of 1.10.

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EDP-Energias de Portugal, S.A Company Profile

EDP Energias de Portugal SA is a Portugal-based utility company. Its segments are Long Term Contracted Generation in Iberia, which includes the activity of electricity generation of plants with contractual stability compensation and special regime generation plants in Portugal and Spain; Liberalized Activities in Iberia, which includes the activity of unregulated generation and supply of electricity in Portugal and Spain, and gas in Spain; Regulated Networks in Iberia, which includes the activities of electricity distribution in Portugal and Spain, gas distribution in Spain, and last resort supplier; EDP Renovaveis, which includes power generation activity through renewable energy resources, and EDP Brasil, which includes the activities of electricity generation, distribution and supply in Brazil.

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