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Fly News Breaks for May 14, 2019
EONGY
May 14, 2019 | 16:20 EDT
Goldman Sachs analyst Alberto Gandolfi downgraded E.ON to Neutral from Buy as he estimates that pro forma economic net debt could be about EUR4B above company guidance and that economic net debt/EBITDA will remain at around 5x over the next five years. Though the business can carry such leverage, "it leaves little room for error" and could prevent the company from stepping up infrastructure capex, Gandolfi tells investors.
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