Stifel restarts Enel at 'hold' on its 'attractive' dividend yield
** Stifel resumes coverage of Italy's energy group Enel ENEI.MI at "hold" as it sees its shares fairly valued and with an attractive dividend yield
** It says that Enel's dividend yield is "attractive" and the "major driver" for the resumption of its coverage, and it estimates in excess of 40% versus its peers for 2024-25
** Enel's strategic plan to 2026 has prioritised investment on grids over renewables, approach that might generate more predictability in its financials, it notes
** Conversely, Enel could be missing some of the growth opportunities offered by renewables, as they are the "best option to decarbonise power generation at relatively low cost", it adds
** Out of 24 analysts covering Enel, 19 rate the stock "strong buy" or "buy" and five rate "hold"
Reporting by Philippe Leroy Beaulieu
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