Neoen: stock falls on broker downgrade
(CercleFinance.com) - The Neoen share is down over 3% on Friday, with Oddo BHF downgrading the share from "neutral" to "reduce," even though it has increased its corresponding target price from 26.
7 euros to 32.7 euros for the share of the renewable electricity producer.
While Neoen is rolling out its business plan for 2022 to reach five GW in operation without any major hitches, the question arises as to the growth in volumes (new MW) to be expected beyond 2022 and its financing, the analyst says.
Aware that the share is a" must have "in the renewable energy segment, the Neoen share is trading at an excessive valuation, which makes any predation that creates value almost impossible, he continues.
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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.
7 euros to 32.7 euros for the share of the renewable electricity producer.
While Neoen is rolling out its business plan for 2022 to reach five GW in operation without any major hitches, the question arises as to the growth in volumes (new MW) to be expected beyond 2022 and its financing, the analyst says.
Aware that the share is a" must have "in the renewable energy segment, the Neoen share is trading at an excessive valuation, which makes any predation that creates value almost impossible, he continues.
Copyright (c) 2020 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.