Berenberg Affirms RWE’s (RWEOY) ‘Buy’ Rating on Earnings Growth Prospects

RWE (OTC:RWEOY) is one of the best wind power and solar stocks to buy, according to analysts, as a leader in renewable energy specializing in wind, solar, and battery storage projects. On September 5, analysts at Berenberg reiterated a ‘Buy’ rating on the stock with a $49 price target.

Berenberg Affirms RWE’s (RWEOY) ‘Buy’ Rating on Earnings Growth Prospects

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According to the research firm, the company is well-positioned to double its earnings per share to €4 by 2030. The robust earnings growth would come against the backdrop of the €35 billion planned investment in renewable and flexible generation capacity. Additionally, the research firm anticipates RWE to achieve a 13.7% compound annual growth rate in earnings per share.

Amid the robust earnings growth, the research firm forecasts a 7.5% compound annual growth rate in dividend payments. Berenberg maintains a buy rating with a $49 price target, citing concerns that the expected growth is not reflected in the current valuation.

RWE (OTC:RWEOY) is a renewable energy company specializing in the development and operation of onshore and offshore wind farms, solar power plants, and battery storage facilities. Its trading arm provides customized products and services to industrial and commercial clients.

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Disclosure: None. This article is originally published at Insider Monkey.