Neoen: Barclays on hold
(CercleFinance.com) - Barclays has adopted an "equal weight" recommendation and a target price of 35 euros for the Neoen share, recognising the thematic interest of the renewable energy group's stock, but also highlighting its valuation.
"With investors and governments alike increasingly focused on the transition to a lowcarbon world, we view Neoen as a company which fits perfectly into that theme," it says.
However, the broker believes that the share price only implies a discount of less than 3%, lower than the 5% or so it currently uses, and therefore sees "better relative value elsewhere in the energy space".
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