Jordan Flannery
Contrarian, arbitrage

EDP Energias De Portugal Looks Attractive After Portuguese Market Correction

Large-Scale And Broad-Based Portuguese Equity Selloff Creates OpportunityOver the past few days, Portuguese equities have sold off rather substantially due to liquidity fears at Portugal's largest bank, Banco Espírito Santo (OTCPK:BKESY). The Portuguese equity market is down by 11.4% over the past week and a number of key non-banking Portuguese corporations have sold off significantly. Amongst those sold-off Portuguese equities is one of Europe's largest utilities, EDP Energias de Portugal SA (OTCPK:EDPFY) or simply EDP. Down by 12% in the past week in OTC trading, EDP's shares have suffered with the broader Portuguese equity market. Little if anything has changed fundamentally for EDP's business and this selloff gives investors the chance to build a position...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details