E.ON SE

EOAN: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|.Xt	LOCK\|lhR!	LOCK\|JLB@$G

E.On Earnings: In line With Expectations; Guidance Maintained; Shares Attractive

Tancrede Fulop

Nov 14, 2024

We confirm our EUR 17 fair value estimate after narrow-moat E.On released nine-month results in line with FactSet consensus and confirmed its 2024 guidance. The 2024 P/E ratio of 10.3 reflects the material undervaluation of the shares despite an appealing dividend and earnings growth outlook underpinned by the group's favorable positioning against the acceleration in electricity grid investments across Europe.

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E.ON SE

E.On Earnings: In line With Expectations; Guidance Maintained; Shares Attractive

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