Oddo BHF maintains its 'outperform' rating on the share, with an unchanged target price of 18.5 euros, and a favorable outlook, including for the medium term.

Following a roadshow organized yesterday by Engie for US investors, Oddo BHF reports that growth targets, particularly in renewable energies (80 GW by 2030), have been confirmed.

The analyst also reports that there is no risk of impairment in the US offshore market, where Engie has three projects, held through Ocean Wind (a 50/50 JV between Engie and EDPR).

Finally, the analyst cites 'appreciable visibility in nuclear power', where 'the agreement on nuclear liabilities is progressing in line with initial expectations'.

Against this backdrop, the broker believes that 2023 results are heading 'at least towards the top end of guidance'.

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