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Barclays and JP Morgan downgrade Enagás, which falls more than 5% in the week



Enagas (-2.1%) is once again one of the worst values ​​of the Ibex 35 this Friday. The company accumulates a decline of more than 5% in the week, which began with increases of 1.3% and then went red in the four subsequent sessions. Barclays and JP Morgan They have fueled this by lowering their prospects for the listed market.

The British bank maintains its advice to 'underweight' and has cut its target price from 19.2 to 18.9 euros per share, and the US bank has kept it at 17.7 euros, but it has cut its recommendation since 'neutral' to 'underweight'.

Both Barclays and JP Morgan justify the scissor pass due to "the regulatory changes in the last minute that the CNMC has published this Thursday for the 2021-26 stage".

From a technical point of view, the analyst of ForexNews.online, J.M. Rodriguez, He highlighted on December 11 that "it is a title, it is a most interesting title despite the wide lateral movement through which the price has been moving since 2015." In addition, he did not rule out that "it can set course from here to the important resistance zone that it presents in the February highs (also historical highs), at 25.16 euros."

Enagás, which has recently launched a 12-year bond issue for 500 million, has been one of the few listed companies that has kept its dividend policy unchanged despite Covid-19 thus projecting a certain image of strength.

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