ELECTRICITE DE/ADR (OTCMKTS:ECIFY) Rating Lowered to Sell at Zacks Investment Research
ELECTRICITE DE/ADR (OTCMKTS:ECIFY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.
According to Zacks, “Electricite de France SA (EDF SA) is a France-based electricity producer, marketer and distributor. The company is largely owned by the French state and Nikhanj Electricite. They generate energy using nuclear technology, as well as thermal, hydroelectric and other renewable sources. It is involved in energy generation and energy sales to industries, local authorities and residential consumers. In addition, EDF SA manages low and medium-voltage public distribution network and involves in electricity transmission network. It also provides energy services, such as district heating and thermal energy services. The group is present in France, Belgium, the United States, Poland, Italy, China, Vietnam and other countries worldwide. The Company has such subsidiaries Dalkia (including Citelum), under Dalkia’s brand and SINOP Energy Company, among others. “
ECIFY has been the topic of a number of other research reports. JPMorgan Chase & Co. restated an “overweight” rating on shares of ELECTRICITE DE/ADR in a research report on Thursday, May 7th. ValuEngine lowered ELECTRICITE DE/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Morgan Stanley reiterated an “overweight” rating on shares of ELECTRICITE DE/ADR in a research report on Friday, April 17th. Berenberg Bank restated a “hold” rating on shares of ELECTRICITE DE/ADR in a report on Friday, June 19th. Finally, Barclays reaffirmed an “overweight” rating on shares of ELECTRICITE DE/ADR in a research note on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.75.
About ELECTRICITE DE/ADR
Electricité de France SA, an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of energy services in France, the United Kingdom, Italy, and internationally. It generates electricity through nuclear, fossil fuel, hydro, solar, wind, biomass, biogas, tidal, geothermal, and cogeneration plants.
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