Acciona: downward adjustment for Acciona Energy valuation, but value remains at these levels
Bankinter : We make a fine-tuning downward valuation adjustment for Acciona Energia (ANE), but we continue to see value at these levels. We slightly adjust our estimates and the group’s target price downwards, but we maintain our Buy recommendation. The main reason is the cut in estimates and valuation on Acciona Energía due to lower electricity prices than initially estimated. Weak demand, a high weight of renewables in the electricity…