Neoen: Stifel still a buyer
(CercleFinance.com) - Stifel expects Neoen to post annual growth in EBITDA of around 20% over 2020-2025, the highest among the major European upmarket operators.
The broker estimates that when the second capital increase is completed - although not before the beginning of 2023 - Neon's operating capacity will be close to double its current levels.
Under these conditions, the research firm reiterates its buy recommendation on the stock, while reducing its corresponding target price to 52 euros.
The company's valuation could double in a few years, from a little over 4 billion euros currently, to over 8 billion in 2025, the analyst says.
The market clearly agrees - the Neoen share is currently up over 4%.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker estimates that when the second capital increase is completed - although not before the beginning of 2023 - Neon's operating capacity will be close to double its current levels.
Under these conditions, the research firm reiterates its buy recommendation on the stock, while reducing its corresponding target price to 52 euros.
The company's valuation could double in a few years, from a little over 4 billion euros currently, to over 8 billion in 2025, the analyst says.
The market clearly agrees - the Neoen share is currently up over 4%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.