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...

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