(CercleFinance.com) – Berenberg maintained its ‘keep’ recommendation on McPhy Energy on Wednesday, while welcoming the ‘big order’ won by the hydrogen specialist in Portugal.
In a note, the financial intermediary said, however, to expect a ‘limited’ impact on the level of earnings forecasts for the manufacturer of hydrogen production equipment, which should above all benefit from this contract during fiscal year 2024.
According to Berenberg, however, this is a ‘positive’ development as the order represents by far the most important contract concluded by McPhy to date.
The German broker recalls that this signing is in the wake of a favorable commercial dynamic, which had seen the group win several contracts, in particular with Hype in Europe and with an industrial site based in Guyana.
If he maintains his opinion ‘keep’ on the title, as well as his objective of 26 euros, Berenberg recognizes that McPhy begins to raise the concerns he could express vis-à-vis the file, namely a pace of taking orders deemed insufficient.
The broker also notes that this announcement confirms the ‘solid start’ made by the new CEO of the company, Jean-Baptiste Lucas.
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