(News Bulletin 247) – Berenberg announced on Wednesday that it had reduced its price target on the McPhy share, reduced from 18 to 17 euros, highlighting solid results for 2022 but also a visibility deemed insufficient.
In a research note, the analyst said the hydrogen-generating equipment maker reported “encouraging” growth in order intake in 2022.
But the intermediary also thinks McPhy will need additional funds to finance its growth ambitions, while saying it wants to see more big deals come through to support the group’s prospects.
Berenberg therefore maintains its ‘hold’ recommendation on the stock.
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