RWE "neutral"

16.05.07 - J.P. Morgan Securities

LONDON, May 16 (newratings.com) - Analysts at JP Morgan maintain their "neutral" rating on RWE AG (RWE). The target price is set to ?77.50.

In a research note published this morning, the analysts mention that the company has reported its 1Q07 results significantly ahead of the consensus due to stronger-than-expected trading results and the lower-than-anticipated effect of adverse weather conditions. RWE expects its robust trading performance to be offset by a decline in the upstream oil/gas prices during the rest of the year, the analysts say.