Jefferies prefers wind energy producer EDPR to parent EDP
** Jefferies downgrades Portuguese utility companyEDP EDP.LS to "hold" from "buy"; sees lack of a strong medium-term catalyst
** "Although we believe the company is well-positioned to benefit from long-term growth due to trends such as data centers, we don't see this trends to shape the flat forecast for coming years 2-3 years," it adds
** Jefferies prefers thegrowth story of Madrid-headquartered subsidiary EDP Renovaveis EDPR.LS,saying consensus numbers already reflect the improvement in Spanish regulatory framework for grids
** Jefferies upgrades EDP Renovaveisto "buy" from "hold" as it sees an upside-skewed risk/reward on the world's no. 4 wind energy producer aftera recent 30% share price decline
** Brokerage says that althoughthe risks in EDP Renovaveis'U.S.-related segment have increased after presidentialelections, the broker is "comfortable" with its 2024-26 U.S. outlook, while adopting a more cautious view on U.S. growth from 2027 onwards
Reporting by Tiago Brandao
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