Enel's stock was still in the light at Piazza Affari, rising by 1,4% in the early afternoon to 4,396 euros, marking the best rise of the Ftse Mib. Already yesterday, the shares of the energy company had gained 1,55%, to 4,334 euros, updating the highs since July 2011 with a peak of the day at 4,348 euros. On the monthly average, Enel's change is positive by almost five percentage points, while from the beginning of the year it was +38,56%.
The latest wave of purchases on the stock came in the wake of the news according to which Francesco Starace, the group's new managing director, is thinking of widening the scope of discontinued assets to include all of Eastern Europe and to review the corporate organization with the definition of four new operating areas (Generation, Transmission, Distribution and Sale).
Furthermore, in an interview published today by the Financial Times, Starace announces that Enel is considering expansion in Africa, America and the Middle East both through renewables and through investments in gas plants. Significant savings are also expected on traditional group investments (approximately 10% to obtain 2,7 billion euros to invest in growth businesses).
A “positive plan for the group – commented the Equita analysts, who confirmed the buy opinion and the target price at 4,4 euros -. We believe that, considering the maturity stage of the European markets, attention to (emerging) international markets is the natural outlet for Enel's traditional business, with a structure that can now rapidly replicate the business model even in new geographical areas”.
