Neoen: Stifel still a buyer, reduces target price

(CercleFinance.com) - Stifel reiterates its "buy" rating on Neoen shares, having reduced its target price for them from 52 euros to 48 euros, after updating its financial estimates for the renewable energy group through to 2025.


The broker expects average annual growth rates of 21% for EBITDA and 48% for earnings. It expects operational capacity of 3.5 GW by the end of 2021, 4.5 GW by the end of 2022 and 8.8 GW by the end of 2025.

After discussions with local journalists about a potential energy reform in Mexico, its likelihood "is very low today", it warns that "there could be financial consequences for Neoen if it is, most probably before the summer of 2022".



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.