LONDON (dpa-AFX) - U.K. investment bank Barclays downgraded Encavis to "underweight" from "equal weight" and cut its price target to 17 euros from 19 euros. 2023 is the year he has been waiting for for European utilities, analyst Dominic Nash wrote in a research note issued Wednesday. He said share prices do not reflect increased profit expectations and growing earnings momentum, and political risks have peaked. Nash's sector favorite is Enel. He is more skeptical in the renewables sector, given high valuations and an impending coordinated EU policy. The expert backs RWE in this sector and downgrades Encavis and Orsted./ag/gl

Publication of the original study: 18.01.2023 / 01:28 / GMT First circulation of the original study: 18.01.2023 / 05:10 / GMT

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