(CercleFinance.com) – Oddo downgraded its rating on the Voltalia share, going from ‘outperformance’ to ‘neutral’, with an unchanged price target of 22 euros.
The broker highlights ‘the reduced potential of the title and the less convincing speculative appeal with regard to the investment philosophy of its main shareholder’.
The analysis office indicates that Voltalia has not issued any 2022 guidance, but has confirmed its 2023 guidance of 2.6 GW of operational capacity or under construction with an EBITDA range of 275 ME to 300 ME.
Nevertheless, the group has not, at this stage, delivered a new strategic trajectory. Oddo is therefore wondering about post-2023 growth and possible financing needs.
“Our model, by 2027, expects an increase of 400 MW per year in installed capacity,” says the analyst.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
