Naturgy Energy Group SA
NTGY: XMAD (ESP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€64.40 | Ltgh | Vtmyzzdl |
Naturgy: Abu Dhabi's Taqa Seeks Takeover; Shares Attractive
On April 16, the Spanish stock exchange suspended trading in Naturgy shares after press articles reported that Abu Dhabi's power and water utility Taqa was discussing with Naturgy's major shareholders to acquire their stakes in order to launch a full takeover bid. On April 17, Taqa confirmed the talks. All in all, we confirm our EUR 25.70 fair value estimate and see the shares as undervalued despite their rise of 9.6% since April 15.