(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on the Neoen share, with an unchanged price target of 35.5 euros.
The analyst believes that yesterday’s announcement of the development of a long-life battery in Australia and, concomitantly, the raising of the 2025 EBITDA guidance to 700 ME are ‘positive elements for the group’s investment thesis’.
In this context, Oddo BHF raises its 2025 EBITDA expectations to 710 ME (vs 610 ME) and, after estimates of investments and financial expenses, EPS 2025 is raised by 28.4%.
“On the other hand for 2023-2025, we are also updating the number of shares following the payment of the dividend for the 2022 financial year in shares, resulting in a -0.5% dilution for each financial year”, concludes the broker.
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