Neoen: Deutsche Bank begins tracking on hold
(CercleFinance.com) - Deutsche Bank announced on Thursday that it has begun monitoring Neoen shares with a "hold" rating and a target price of E27.
In a report, the analyst hails the "rapid" growth of the renewable energies sector, but believes that the French group is now fairly valued on the stockmarket.
"Neoen's renewable targets are on plan, it has made large farm down gains, has a reasonable track record, recently raised guidance and is adequately capitalised", Deutsche Bank says.
However, the analyst is concerned about the company's high level of debt and, above all, the ambitious forecasts set by the consensus, with respect to which he sees a risk of disappointment of 15% to 20% by 2023-24.
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