Alerion, Kepler Cheuvreux: Need to increase float and update plan

Alerion Kepler Cheuvreux Need to increase float and update plan

(Finance) – Kepler Cheuvreux has confirmed the target price (to 29 euros for action) and the recommendation (to Buy) on the title Alerion Clean Powera company listed on Euronext Milan and active in the renewable energy field.

Analysts write that Q2 results were supported by higher YOY production from new plants coming online and are in line with the trend expected for the whole yearsince the EBITDA recorded in the first half-year is approximately 50% of the total, in line with the historical average in a normalized year.

The YOY variation in revenue/EBITDA is explained by energy prices electric made lower and from 14 million euros of one off positive results recorded in 2023. Operating revenues, net of this effect, decreased by approximately 6% YOY, Adjusted EBITDA by 11% YOY and Adjusted net income by 31% YOY in the first half.

As usual, management did not provide guidance for the current year. It is expected that the business plan will be published after the first operation of “equity recycling” (which is included in analysts’ ratings). “Recall that this type of asset turnover will be included in EBITDA as these revenues become recurring,” the research reads.

According to Kepler Cheuvreux, Alerion “must increase the limited float to attract stable institutional shareholders and provide an update on your plan corporate to investors as soon as possible,” with limited liquidity weighing on the stock.

(Photo: Aniek Wessel on Unsplash)

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