(News Bulletin 247) – The Neoen share rose on Wednesday, taking advantage of an increase in recommendation from Morgan Stanley, which says it sees less risk around the renewable energy specialist.
After having jumped by almost 3.5% during the morning, the action of the energy company gained 0.6% around 12:30 p.m. while the SBF 120 fell back by around 0.2%.
Morgan Stanley raised its recommendation on the title, raised from ‘underweight’ to ‘weight in line’ with a price target reduced from 33 to 32 euros.
In a research note, the financial intermediary explains that he perceives fewer downside risks around the energy company now that the market forecasts for 2025 have been revised and that its capital increase has been finalized.
While he also acknowledges that the stock’s valuation is now less stretched, the analyst points out that it is still far from cheap, while explaining that he expects to have more visibility on the value creation potential of the stock. group in renewable energies before being more ‘constructive’ on the issue.
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