Bankinter analysts initiate coverage of Umbrella Solar with a ‘buy’ recommendation and a target price of €7.6, representing a potential of 37%. “We believe the stock will progressively appreciate in value” and “expect the market to value Umbrella’s shares as its project portfolio matures,” they note.
Umbrella Solar Investment, S.A.
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- 6.350€
- 0.79%
The company believes that the expansion of renewable energies is key to the transition to a sustainable energy scenario. “We foresee a five-fold increase in global renewable capacity by 2020-2050 and a four-fold increase for solar photovoltaic energy”.
“This scenario is very favorable as the awarding of construction licenses for large photovoltaic plants and industrial self-consumption facilities, fields where Umbrella is present, accelerates,” they say.
In addition, they believe that the price increase in the wholesale electricity market“increases the attractiveness of the sector, especially for new construction plants with the objective of selling energy to the pool without signing closed price contracts, or PPAs”.
Umbrella Solar was listed on the BME Growth market on July 1st through an IPO for 20% of its capital.
Bolsamania Team
