EDF – Buy – Nuclear Reform Key for Future

Interesting talk about potential reform on the Nuclear front on EDF FP – we see large value

*We see large potential to unlock value in case of a split with the government keeping the Nuclear assets and splitting off the renewables

*EDF trading very cheap compared to the rest of the ESG / Renewable sector in Europe

*Acquisition in Ireland yesterday also highlights the push to renewables {NSN QHJ2I7MB2SJP <GO>}

*Also stands to benefit from Hydrogen trend – GS says Hydrogen demand over next 25 years could imply need of 1.2tln of investment in the sector

*We have a price target of EUR 14 with a split as a possible catalyst

EDF Climbs on Investor Optmism Over Nuclear Regulation Reform {NSN QHKCP7T1UM12 <GO>}