Thyssenkrupp nucera: shares plunge after downgrade

(CercleFinance.com) - Thyssenkrupp nucera shares posted one of the biggest declines on the Frankfurt Stock Exchange on Friday, penalized by the downgrading of Deutsche Bank's analysts' recommendation, justified by regulatory issues.


At around 4.20 pm, the electrolysis plant specialist's shares dropped by over 7% after three consecutive sessions of strong gains, while the German market advanced by 0.6%.

The share price has fallen by almost 7% since the company announced at the end of July that it would not be able to meet its 2025 green hydrogen targets.

In a research note, Berenberg's teams point out that the company considers it unlikely that the uncertainties surrounding the implementation of the Clean Hydrogen Production Tax Credit (Section 45V) in the United States will be resolved by the November presidential election.

While acknowledging that the Group is in a position to take orders elsewhere, particularly in Europe, the intermediary expresses doubts as to whether the number of final investment decisions (FIDs) will really multiply between now and spring 2025.

Berenberg has therefore reduced its recommendation on the stock to 'hold' from 'buy', with a price target lowered from €16 to €12.

In a study published yesterday, Deutsche Bank analysts consider that regulatory uncertainties combined with the withdrawal of 2025 targets justify a sharp downward revision of market expectations.

Despite this, they are maintaining their 'buy' recommendation, with a target price of 13 euros.

Preferring to focus on performances deemed 'solid' in an environment considered 'difficult', RBC is also maintaining its 'outperform' opinion on the share, with a target of 20 euros.

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