Naturgy Energy Group SA
NTGY: XMAD (ESP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€48.20 | Jzhfp | Ksnrxlf |
Naturgy: Guidance Raised on Strong First-Half Results; 2025 Renewables Ambitions Slashed
We confirm our EUR 25 fair value estimate after no-moat Naturgy raised its 2023 guidance on the back of solid first-half results and shed more light on its 2023-25 strategic update whose key figures had been released July 12. Shares appear overvalued.