On Thursday, HSBC maintained its 'hold' recommendation and price target of 27 euros on Neoen shares ahead of the presentation of the renewable energy producer's 2023 annual results on February 28.

The broker says it expects a solid publication, with adjusted Ebitda of 473 million euros, up 14%, compared with a consensus of 471 million euros and the target of 470-480 million euros communicated by the group.

The broker nonetheless expects fewer catalysts for 2024, due to the downturn in electricity prices.

For 2024, HSBC expects adjusted Ebitda of 528 million euros, compared with analysts' consensus of 551 million euros, representing growth of 11%, but marking a clear slowdown compared with 2023.

Its court target shows potential growth of 9.7%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.