(CercleFinance.com) – The analyst confirms his buy advice on the stock but lowers his price target to 77 Norwegian crowns (instead of 80 Norwegian crowns).
The total impact of the changes to the CO2 compensation system for Norsk Hydro in 2023 is estimated at around one billion NOK, or almost 86.5 million euros.
‘The Norwegian draft national budget unexpectedly reduced CO2 compensation for 2023 by 1 billion Norwegian crowns. We are updating our target to reflect these changes,’ says UBS.
‘Our main concern is the escalating liquidity leaks from renewable energy projects which are impacting cash returns,’ he warns in the summary of his research note.
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