EDP Renováveis, S.A. (OTCMKTS:EDRVF) Receives Average Recommendation of “Hold” from Brokerages

Shares of EDP Renováveis, S.A. (OTCMKTS:EDRVF – Get Rating) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $21.98.

EDRVF has been the subject of a number of research analyst reports. Citigroup upgraded shares of EDP Renováveis from a “neutral” rating to a “buy” rating in a research note on Friday, March 3rd. The Goldman Sachs Group upgraded shares of EDP Renováveis from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, February 23rd.

EDP Renováveis Price Performance

EDRVF stock opened at $20.60 on Friday. EDP Renováveis has a twelve month low of $18.60 and a twelve month high of $27.23. The business’s 50-day simple moving average is $22.14 and its 200 day simple moving average is $22.14.

EDP Renováveis Company Profile

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EDP Renovaveis SA operates as a renewable energy company, which engages in the development, construction, and operation of wind farms and solar plants. The firm generates energy from renewable sources in several locations. It operates through the following geographical business segments: Europe, North America, and Brazil.