Engie up after it raises FY profit target, confirms dividend
Updates shares, adds analyst comment
** Shares in Engie ENGIE.PA rise around 3% afterthe French energy company lifted its profit guidance following H1 results that beatexpectations
** It ups FY annual net recurring income group share forecast, to a range of 5.0-5.6 bln euros ($5.40 bln-6.05 bln), from 4.2-4.8 bln previously
** Results beat expectations, says J.P.Morgan, and points to a very strongguidance upgrade which shouldbe taken well by the market prompting consensus upgrades
** "I see no risk on the raised guidance," says analyst Tancrede Fulop from Morningstar, adding that strong half-year results gave Engie enough visibility to raise the forecast
** He also points to the company re-affirming its dividend policy, which implies a roughly stable dividend compared to last year's record, while the market had expected it to drop
** Shares head for their best day in about a month if gains hold
($1 = 0.9257 euros)
Reporting by Olivier Sorgho
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