Goldman, Barclays trim Iberdrola Renovables price target
(ADPnews) - Oct 22, 2010 - Goldman Sachs and Barclays reduced their share price targets for Spanish renewable energy firm Iberdrola Renovables (MCE:IBR) after the company reported its figures for January-September 2010.
Goldman Sachs cut the price target to EUR 3.10 from EUR 3.20 keeping a "neutral" stance. Barclays trimmed the target on Iberdrola Renovables to EUR 3.75 from EUR 3.95 placing an "overweight" recommendation.
The company closed the first nine months of 2010 with a net profit of EUR 179.4 million (USD 251.5m), up 7.1% on the year.