(CercleFinance.com) – The Neoen share rose by more than 4% in Paris, after Stifel reiterated its ‘buy’ recommendation on the share while raising its price target from 36 to 38 euros, the day after the announcement of a major new storage battery contract in Australia for 219 MW.
‘With now nearly 1.4 GW of storage battery capacity in operation or under construction worldwide, Neoen confirms its leadership position in technology’, underlines the broker in the summary of its note.
Adding that the renewable energy group has accordingly raised its EBITDA target for 2025 to “more than 700 million euros, including farm downs”, Stifel raises its own estimate from 695 to 745 million euros.
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