(News Bulletin 247) – Baader analysts said Monday they see an “interesting opportunity” in thyssenkrupp nucera ahead of the company’s IPO, scheduled for July 7 in Frankfurt.
From the design office’s point of view, the specialist in electrolysis modules for the production of green hydrogen is a good lever for taking advantage of the growing market for hydrogen production.
thyssenkrupp nucera, which is a competitor of the Norwegian Nel, the British ITM Power, the French McPhy and the American Plug Power, is the world leader in alkaline water electrolysis, a know-how which should guarantee it double-digit growth rates in the coming years, he adds.
Baader also mentions a ‘healthy’ balance sheet structure, with almost zero debt.
And while some observers have been disappointed with the indicative price range, the research firm believes that this is an appropriate level leaving plenty of room for improvement.
thyssenkrupp and De Nora, the company’s two shareholders, announced last week that the IPO would take place within a range of 19 to 21.5 euros, which could value the company between 2.4 and 2.7 Billions of Euro’s.
Baader displays a buy recommendation on the title thyssenkrupp, with a target price of 16 euros.
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