Enel rises despite BTP storm. Citigroup remains cautious


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Enel rebounded after yesterday's sharp decline, snubbing new government bond tensions. Citigroup analysts adjust the target price.

At the end of the eighth the rebound came for Enel, which found its way back to gains after three consecutive sessions in decline.

The stock, after having sold over 2% yesterday, managed to catch up, stopping close to the intraday highs at 6.866 euros, with a rise of 1.69% and over 27 million shares traded, just above the average of last 30 days.

Enel benefited from the positive performance of the utility sector which reacted after the strong sales on the previous day.
The stock was not affected by the persistent rate tensions, which today saw the 10-year BTP yield jump by 5.48% to 1.271%, after reaching a top at 1.377% in the intraday.

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Today Enel ended up under the lens of Citigroup, whose analysts on the one hand reiterated their cautious view, with a "neutral" recommendation and on the other hand revised upwards the target price from 6.3 to 6.7 euros.

The US bank believes that the stock is correctly valued at current prices, indicating that the next catalyst is given by the appointment on November 26, when Enel will present the new business plan.

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