Neoen: AlphaValue raises target price
(CercleFinance.com) - AlphaValue has raised its target price for Neoen shares, which it describes as the Hermes of the renewable energy sector, from 29.
2 euros to 32.6 euros.
In its comments, the independent broker explains that it has increased its earnings forecasts for the energy producer for 2022, 2023 and 2024, due to its ambitious production targets and thanks to the surge in electricity prices.
However, AlphaValue maintains its "sell" recommendation on the stock, which it believes is overvalued given the buyback premium already priced in and the low potential for positive surprises compared to current forecasts.
Analysts see more potential in the Italian energy company Erg, while still considering the German RWE as the best pick in the power generation sector.
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