NEOEN : 2020 a shade below forecasts, but a clear vision of market trends
>Underperform recommendation and target price maintained at € 43 - At the publication of 2020 revenues, a shade below our forecasts (€ 299m vs € 328m est.), the group detailed its guidance for 2020 EBITDA at the low end of the already announced range (i.e. € 270-285m). We have adjusted our 2020 forecasts accordingly (EBITDA of € 271m vs € 281m previously). This leads to a downward revision to our 2020 EPS estimate of 12.5%. We are maintaining our target price of €...Neoen SA Formerly known as Neoen Sas. Neoen SAS is a France-based company specialized in the renewable energy sector. The Company operates, finances and develops a number of power plants from a variety of energy sources, including Solar, wind and Biomass. Its portfolio of power plants includes providencia, ombrineo, degrussa, cestas, ygos, luxey, geloux, seixal, cabrela, coruche, hornsdale I, bussy-lettree, raucourt II, villacerf, bais et trans, reclainville, chapelle vallon and la montagne. Apart from France, the Company is present in many other countries such as Portugal, Australia, Australia, Jordan, Zambia, Mozambique, Argentina, Jamaica, Mexico, Egypt and El Salvador, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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