NEW YORK (dpa-AFX) - The US bank JPMorgan has named RWE as one of its "top picks" among European utilities for 2024 in an industry outlook published on Thursday. Analyst Javier Garrido left the rating for the share, which is also on the "Analyst Focus List", at "Overweight" with a price target of 59.50 euros. The headwind for the sector's profits due to higher interest rates will be more than compensated for by higher energy prices. In addition, the momentum in the renewable energy sector should continue to improve over the course of the coming year. In addition to RWE, Enel and SSE are among Garridos' favorite stocks. He also sees EDP, Engie and Centrica as positive. On the other hand, he advises against the comparatively expensive shares of Redeia, Enagas and Severn Trent as well as the particularly cyclical shares of Veolia./gl/bek

Publication of the original study: 13.12.2023 / 17:43 / GMT First distribution of the original study: 14.12.2023 / 00:15 / GMT

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