NEOEN : A good H1 2022, but a valuation that is close to the glass ceiling
>Neutral recommendation vs Outperform and target price adjusted to € 44.5 vs € 41.5 - Following the publication of interim results which came in above our forecasts for organic growth and to a lesser degree the upward trajectory of wholesale prices, we have downgraded our recommendation to Neutral vs Outperform. Despite our vision for a return to a “flight to quality” in the renewables segment, we think that the current valuation leaves relatively limited upside, excl...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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