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Posted by
Two Blokes Jun 18 -
Filed in
Stock
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6 views
We maintain a neutral rating on Enagás due to long-term concerns and an expensive valuation compared to peers. Q1 results were slightly better than expected, aided by lower OPEX and a favorable ICSID ruling, but these positives are non-recurring. Key risks include unresolved cash repatriation issues in Peru, rising personnel costs, and potential sustainability concerns regarding dividend payments despite the arbitration award.
