RBC Capital analyst Fernando Garcia maintained a Buy rating on Red Electrica Corporacion (0RI5 – Research Report) on July 31. The company’s shares closed last Friday at €16.88.
According to TipRanks, Garcia is ranked #611 out of 8938 analysts.
Currently, the analyst consensus on Red Electrica Corporacion is a Strong Buy with an average price target of €18.45, a 9.29% upside from current levels. In a report released on August 1, UBS also maintained a Buy rating on the stock with a €18.85 price target.
0RI5 market cap is currently €9.08B and has a P/E ratio of 15.07.
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Red Electrica Corporacion (0RI5) Company Description:
Red Electrica owns and operates the Spanish electric transmission system. The company has acquired almost all of the nation’s power grid, which other owners were forced to sell to it by government decree. Its activities are regulated by the National Energy Commission, which answers to the Spanish legislature. Red also operates a small fibre-optics network in Spain and has a growing Latin American infrastructure business. The group significantly increased its exposure to telecommunications by acquiring Spanish communications satellite operator Hispasat from Abertis in 2019.
