Berenberg Bank Reaffirms Their Hold Rating on Iberdrola (0HIT)
In a report released yesterday, Andrew Fisher from Berenberg Bank maintained a Hold rating on Iberdrola, with a price target of €19.00. The company’s shares closed yesterday at €18.42.
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Fisher covers the Utilities sector, focusing on stocks such as RWE AG, Iberdrola, and RWE AG. According to TipRanks, Fisher has an average return of 13.8% and a 72.41% success rate on recommended stocks.
Currently, the analyst consensus on Iberdrola is a Hold with an average price target of €18.19, representing a -1.22% downside. In a report released on January 19, Morgan Stanley also maintained a Hold rating on the stock with a €19.00 price target.
Based on Iberdrola’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of €9.88 billion and a net profit of €1.56 billion. In comparison, last year the company earned a revenue of €9.96 billion and had a net profit of €1.37 billion
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0HIT in relation to earlier this year.
