Fortum in Danske’s morning review, visible behind the link until the next business day.
Target price: 15.0 EUR /hold → 13.5 EUR & sell
-dividend detachment taken into account
More details behind the link, but falling electricity price - EPS is estimated to drop to 0.64€ in 2027
Valuation. The 12-month forward P/E is 16.5x (LSEG), Fortum trades at a 30% premium to its five-year historical average trading multiple of 12.6x.
https://danskebank.fi/sinulle/saastaminen-ja-sijoittaminen/oppaat/sijoittamisen-aamukatsaus