RWE AG Class A

RWE: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€44.00	Mdt	Xjqmkpxr

RWE Sets 2023 Guidance Above Expectations; Surprise Dividend Hike; Shares Cheap

Tancrede Fulop

Mar 21, 2023

We don't expect to materially change our EUR 53 fair value estimate after no-moat RWE set 2023 earnings guidance above our expectations and those of company-compiled consensus and surprisingly hiked its dividend floor from EUR 0.9 to EUR 1 per share. Despite a competitive assets portfolio and excellent track record, shares appear significantly undervalued.

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