Bryan Garnier - NEL (NEL.OL) NEL: Still waiting for the take-off. TP adjusted from NOK33 to NOK23 | BUY | NOK23 VS. NOK33 (+64%)

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Bryan Garnier

Xavier Regnard

NEL: Still waiting for the take-off. TP adjusted from NOK33 to NOK23 | BUY | NOK23 VS. NOK33 (+64%)

NEL - BUY | NOK23 VS. NOK33 (+64%)
Still waiting for the take-off. TP adjusted from NOK33 to NOK23

Q2 below expectations
Buy rating maintained but TP adjusted from NOK33 to NOK23
We continue to strongly believe in green hydrogen but prefer to invest on critical components of the supply chain

20/08/2021 1 EN

Underlying

NEL

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Xavier Regnard

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Bryan Garnier

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Beiersdorf 2025 guidance reiterated, despite poor Q1

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NEL: Still waiting for the take-off. TP adjusted from NOK33 to NOK23 | BUY | NOK23 VS. NOK33 (+64%)

Energy transition & Sustainability Green hydrogen finally ready for take-off | HydrogenPro initiation of coverage Buy – Tprice NOK50/share

NEL: Record order for 200 MW of alkaline electrolyser | SELL | NOK10

NEL: Top-line below expectations, challenged by supply chain disruptions | SELL | NOK10

Beiersdorf 2025 guidance reiterated, despite poor Q1

Waga Energy: a good FY24 performance

Valneva: Ixchiq approved in Brazil

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