Neoen: stock up on broker comments

(CercleFinance.com) - The Neoen share is in the lead in the SBF 120 index on Thursday following positive comments from JPMorgan, which added the stock to its list of stocks to watch ("catalyst watch").


While it acknowledges that it does not necessarily prefer renewable energy specialists at the moment, the broker highlights its positive trend, thanks to projects delivered on time and rising electricity prices.

Renewable electricity operators will be able to sell their electricity on the markets, which are currently at their highest, for 18 months in order to be able to make returns on their investments.

JPMorgan says that this could support Neoen's share price until the release of its 2022 annual results on 28 February.

In general, the analyst notes that the current energy crisis and its repercussions on electricity tariffs are beneficial for the company.

Although it has raised its target price for the stock from 37.5 euros to 41 euros, JPMorgan nevertheless maintains a "neutral" rating on the share, explaining that it currently prefers integrated energy players such as Engie or RWE.

The stock is currently up 3.5% in Paris.


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