Cloudberry - Initiation of coverage - Staying power
Cloudberry offers a unique combination among Nordic listed independent power producers (IPPs) in our view, with: 1) high spot power-price exposure and assets in high power-price areas; 2) low interest-rate risk with all existing debt at fixed interest rates; and 3) small threat from the high competition in the renewables space as its growth is not dependent on tenders. Being one of few renewables names trading at a discount to the valuation of its existing business, we initiate coverage with a BUY and NOK14.5 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.