Engie's share price has fallen by almost 5% after several negative analyses.

Bank of America on Tuesday downgraded its recommendation on the share, from 'buy' to 'underperform', with a price target reduced from 19 to 12 euros.

In a note on European utilities released this morning, the research firm explains that the risks surrounding the French energy group's results are, in its view, on the downside.

BofA points out that its initial targets, which foresaw significant upside potential for earnings, have been wiped out by, among other things, the increase in nuclear provisions in Belgium.

The analyst also considers the French government's mechanism for recovering surplus revenues from electricity producers to be one of the most penalizing in Europe, again to Engie's detriment.

UBS confirms its buy recommendation and also lowers its price target to E15 (from E15.5) ahead of the expected update of the strategic plan.

' The consensus may be a little high. We cut forecasts and reduce the PT to 15.0 EUR, but maintain our Buy rating in view of the unjustifiably low valuation' says UBS.

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