Energy Developments (ENE) Stock Recommendation

ABN Amro have rated the Energy Developments (ENE) stock as a Buy with a share price target of $4.70 (up 9 cents). The recent results period proved that the company met the broker's forecast with improved operating performance producing a strong result of $24.4 million. As a result of Energy Development's performance with their US assets the stockbroker has consequently lifted their forecasts in FY07 to $30.7 million (up from $28.2 million) and in FY08 from $32 million to $38.4 million. Meanwhile, Deutsche Bank have also rated the ENE stock as a Buy with a share price target of $4.80. SB Citigroup have rated the stock as a Buy, High Risk with a share price target of $5.29 (falling from $5.46). UBS have a Buy 2 recommendation for the stock with a shar price target of $5.06. They believe that the stock result was up 13 percent above consensus.

Energy Developments Limited is listed on the Australian Stock Exchange (ASX) under stock code ENE. You can view their investor website here. Energy Developments was listed on the ASX on 10 November, 1993. ENE is involved in the development, ownership and operation of power generation, power transmission and waste-to-energy conversion projects. Find out the meaning of the recommendations in this primer. Browse for other broker recommendations. Check your charts and good luck with your share trading!