Neoen: Oddo lowers TP after capital increase
(CercleFinance.com) - Oddo maintains its "outperform" rating on Neoen shares, while reducing its target price for them from E44.
5 to E35.5, following the group's E750m capital increase and the resulting dilution.
This fundraising is part of Neoen's 2023-2025 strategic plan, which aims to reach 10 GW in operation or under construction by this date, for a cumulative equity contribution of E1.35bn.
Taking into account the creation of new shares, analysts have adjusted their 2023/2027 EPS guidance by -23.4%, Oddo says.
The analyst says that the completion of this fundraising will enable investors to refocus on the operational trajectory through to 2025.
Copyright (c) 2023 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.
5 to E35.5, following the group's E750m capital increase and the resulting dilution.
This fundraising is part of Neoen's 2023-2025 strategic plan, which aims to reach 10 GW in operation or under construction by this date, for a cumulative equity contribution of E1.35bn.
Taking into account the creation of new shares, analysts have adjusted their 2023/2027 EPS guidance by -23.4%, Oddo says.
The analyst says that the completion of this fundraising will enable investors to refocus on the operational trajectory through to 2025.
Copyright (c) 2023 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.