FRANKFURT (dpa-AFX) - Following a buy recommendation from Metzler Bank, SMA Solar shares rose by up to 5.7 percent to €30.24 on Friday. This took the solar specialist's shares just above the previous day's high, which they had temporarily reached after the final nine-month figures were released.
Analyst Guido Hoymann's buy recommendation is based on continued strong demand and margins in the large-scale segment, i.e., the large-scale plant segment in northern Hesse. He said that performance in the third quarter had been extremely good in this area.
SMA CEO Jürgen Reinert emphasized the day before that the strategic focus on high-growth future fields such as photovoltaic power plants is paying off. Demand for residential and commercial systems is declining.
Hoymann has more than doubled his price target to €40. If this target is reached, the deep dip in the price chart following a profit warning in June 2024 would almost be completely erased./ag
