Growing pains in the Energy

ph Sven Piper on Unsplash

The analysts at Morgan Stanley have downgraded their recommendation on Erg, leader of clean energy from renewable sources in Europe and listed on Euronext Milan, from Equal-weight to Underweight, with the target price revised from 26.80 euros per share to 27.30 euros per share.

The downgrade on the Italian utility’s stock comes amid a series of revisions in the European sector. There was also a cut from Equal-weight to Underweight on Endesa, one of the three largest companies in the electricity sector in Spain.

Recent analysis predicted European nations will experience growing pains from a switch to renewable sources of energy including wind power.

Some factors are the intermittent nature of these sources; the electricity demand expected to increase steadily; the growing need for skills related to new and emerging technologies. Power prices have touched new highs. This volatility poses a challenge for utilities, traders, and large power consumers. (Redazione)

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