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The Ftse Mib continues to move higher following the strength of Wall Street. By now it is almost obvious that the Italian index is headed towards the highs reached in January of last year and well beyond. Stocks that have suffered sharp declines in recent months and are currently undervalued continue to generate bullish signals every day. At the close of today’s trading day, an Italian multi-utility generated a good bullish signal. ACEA undervalued by 40% and with a dividend of 6.25% could continue to rise. Let’s find out why.
The company has a market capitalization of 2.9 billion euros, and in the last 3 months it has traded around 137,787 shares every day. The dividend yield is around 6.25%.
Expert judgments
The recommendations of the analysts (4 judgments as read by the specialized magazines) express a Buy signal and calculate a fair value of around 19.18 euros per share with an undervaluation of 40.8% compared to the current price.
Fabrizio Palermo CEO of ACEA-proiezionidiborsa.it
These judgments are as follows:
maximum target price estimated at €22.50 per share;
minimum target price estimated at 15.50%.
We also went to read the valuations expressed by the discounted cash flow method and this brings us to a fair value of approximately 19.50 euros per share, in line with the consensus expressed by analysts.
Light to beauty – Acea illuminates the Roman Forum-video
ACEA undervalued by 40% and with a dividend of 6.25%: the graph is bullish
Shares finished today’s trading session at 14.10. In the past year they have marked the minimum at 10.58 and the maximum at 19.05. Last year’s low touched the 200-month moving average. This is a sign that in the history of historical series it has often stopped long-term declines.
Today, quotations seem to be heading towards the 200-week moving average in a few months, which at this moment passes to 16.317.
Immediate support is at 13.53/13.02, supporting the ongoing upside for now. The assumptions seem good, and probably the long-term decline for the reasons explained above has reached a multi-year bottom.
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