UBS reaffirms its 'buy' recommendation and €7.55 price target on Enel, seeing upside potential of 16% for the Italian utility's shares, the day after the company announced its quarterly results.

After solidly exceeding expectations in the first quarter, with strong growth in hydroelectricity and margins, the broker sees the group on track to achieve its targets for fiscal 2024.

"Management reiterated its growth levers for the remainder of the year, and suggested an improvement in shareholder compensation this year in line with plan," UBS also highlights in its note summary.

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