The analyst firm confirms its Hold recommendation on the stock, with an unchanged target price of E6.50.

Jefferies is confident about the outlook and disposal plan for FY24-26.

' Enel has declared EBITDA/ordinary net income of €22.0 billion/€6.5 billion (+12%/+21% year-on-year) for fiscal 2023, which is in line with the company's and Jefferies' consensus ' stresses the analyst firm.

' Management expects good progress on divestments and indicates that of the expected 11.5 billion euros of divestments announced in their CMD 2023, only 1 billion euros of divestments have not yet been announced and are at an 'advanced' stage ' says Jefferies.

Management has reiterated its confidence in its business plan for FY24-26, and sees growth drivers for networks/integrated businesses. In networks, they see supportive regulatory measures emerging for Italian networks. In the integrated sector, they see a great evolution of margins and mention high levels of coverage' adds the analyst.

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