Verbund AG Class A

VER: XWBO (AUT)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Verbund Earnings: 2024 Guidance Tweaked Upward; Shares Overvalued

Tancrede Fulop

Nov 8, 2024

We confirm our EUR 62 fair value estimate based on midcycle power price assumptions of EUR 60/megawatt-hour after wide-moat Verbund released nine-month results hit by lower achieved power prices, but tweaked its 2024 guidance upward. Shares appear overvalued.

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Verbund AG Class A

Verbund Earnings: 2024 Guidance Tweaked Upward; Shares Overvalued

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