Enel SpA

ENEL: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€2.80	Lgqf	Kfxcbjzr

Enel Posts Weak Earnings in Q2 but Maintains 2022 Guidance; Shares Deeply Undervalued

Tancrede Fulop

Jul 28, 2022

We maintain our EUR 8 fair value estimate after no-moat Enel released weak second-quarter earnings but confirmed its 2022 guidance and dividend of EUR 0.4, implying a 8% yield. Its 2022 P/E is 8.7, and shares appear grossly undervalued.

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