Shares outpace the blue chip index (Il Sole 24 Ore Radiocor) - Milan, 27 Aug - Shares in Enel were higher after Goldman Sachs increased the target price of the Italian power generator and confirmed its 'buy' recommendation.

At 0839 GMT, Enel was up 0.86% to 6.767 euros, outpacing the FTSE MIB blue chip index, which was up 0.49%.

Goldman Sachs increased the target price to 9.20 euros from 9.00.

The broker expects Enel's forthcoming Capital Markets Day will mark a change in strategy. It anticipates further investment in the whole of the electrification value chain.

Goldman Sachs predicts that Enel could increase its investment target by 30-60% in its three-year business plan.

It also believes that Enel can beat its 2024 and 2026 earnings guidance.

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(RADIOCOR) 27-08-24 10:46:53 (0243) 5 NNNN