SMA Solar Technology AG : We welcome innovation efforts but we remain cautious on the stock
>Reduce recommendation maintained and target price lifted from € 17 to € 19 - Following SMA’s CMD, we have integrated the cost savings programme into our estimates and we have marginally lifted our growth estimates in volume terms for the 2019-2021 period. This takes our target price to € 19.0 (vs € 17.0). However, we continue to remain cautious regarding the inverters market which remains penalised by the fall in prices and regulatory changes affecting the photovol...SMA Solar Technology is a holding company. Through its subsidiaries, Co. operates in five divisions: Medium Power Solutions, which distributes inverters, system solutions as well as products used for monitoring PV systems and energy management; Power Plant Solutions, which supplies central inverters and system solutions to PV plants; Service, which provides customers in Germany and abroad with support and after-sales services; Zeversolar, which serves the Chinese photovoltaic market and the budget market (low-price segment) in foreign markets; and Railway Technology, which manufactures converters as individual devices and energy supply systems for railway coaches.
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.
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.