Red Electrica Corporacion SA (OTCMKTS:RDEIY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $13.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.35% from the stock’s current price.

According to Zacks, “Red Electrica Corporacion, S.A. is primarily engaged in power transmission and operation of electrical systems in Spain. The Company performs its functions in coordination with the operators and clients of the Iberian power market to ensure continuity and security of power supply. Red El├ęctrica also acts as the operator of the insular and extra peninsular power systems. The Company also provides consulting and advisory services and telecommunication services through its subsidiaries. Red Electrica Corporacion, S.A. is headquartered in Alcobendas, Spain. “

Separately, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Red Electrica Corporacion SA in a research note on Tuesday, September 5th.

Shares of Red Electrica Corporacion SA (OTCMKTS:RDEIY) opened at 10.96 on Thursday. Red Electrica Corporacion SA has a 1-year low of $8.65 and a 1-year high of $11.57. The company’s 50-day moving average is $11.08 and its 200-day moving average is $10.44. The stock has a market cap of $11.83 billion, a P/E ratio of 15.50 and a beta of 0.67.

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