EDP Energias De Portugal Looks Attractive After Portuguese Market Correction
- Over the past week, Portuguese equities have sold off by 11.4%.
- This selloff has created an attractive entry point for a number of Portuguese companies.
- EDP Energias de Portugal is down by 12% over the past week with little if anything changing about their fundamental utility business.
- Despite a weak Iberian economy, EDP continues to invest in their business while also paying a 5.7% dividend.
- At 12.2x TTM earnings, this recent selloff could be an opportunity for long term investors to initiate a position in EDP.