RWE AG (NASDAQ:RWEOY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, August 9th.
According to Zacks, “RWE AG is among Europe’s five largest utilities. RWE is active in the generation and transmission as well as the sale and trading of electricity and gas. RWE is also active in the water business in Continental Europe. This integrated business model gives them a good position from which to take advantage of the rising demand for energy. RWE is the biggest power producer in Germany and No. 2 in the UK. RWE continues to expand its position in Central and South-Eastern Europe. Their comprehensive power plant portfolio and investment programme for the modernization and construction of new generation capacity are the basis for growing earnings in the future. RWE’s gas and oil production business is displaying above-average growth. In light of ever-higher global demand, RWE will steadily increase the share of gas it produces in-house. “
Several other equities research analysts have also recently issued reports on the stock. ValuEngine raised shares of RWE AG from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Deutsche Bank AG raised shares of RWE AG from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. HSBC Holdings plc raised shares of RWE AG from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. UBS AG upgraded shares of RWE AG from a “sell” rating to a “neutral” rating in a report on Friday, July 7th. Finally, Investec upgraded shares of RWE AG from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.00.
Shares of RWE AG (NASDAQ:RWEOY) traded up 1.59% during mid-day trading on Wednesday, hitting $24.22. 5,672 shares of the stock traded hands. RWE AG has a 12-month low of $11.55 and a 12-month high of $24.25. The firm’s market cap is $14.90 billion. The firm’s 50 day moving average price is $21.18 and its 200 day moving average price is $18.09.
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About RWE AG
RWE AG (RWE) is a holding company. The Company is a supplier of electricity and natural gas in Europe. The Company is engaged in production of lignite and electricity generation from gas, coal, nuclear and renewables, to energy trading and distribution, and the supply of electricity, gas and other solutions.
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