(News Bulletin 247) – Deutsche Bank announced on Thursday that it had initiated monitoring of the Neoen share with a ‘hold’ recommendation and a target price of 27 euros.
In a research note, the analyst welcomes the “rapid” growth of the renewable energy sector, but believes that the French group is now well valued on the stock market.
‘Neoen’s renewable energy projects are progressing well, the group has made significant gains on its disposals of power plants, its business history is correct, it recently raised its targets and appears well capitalized’, explains Deutsche Bank.
But the analyst indicates that he is worried about the company’s high debt and above all the ambitious forecasts established by the market consensus, vis-à-vis which he envisages a risk of disappointment of around 15% to 20 % by 2023-24.
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