RBC Capital analyst Erwan Kerouredan downgraded Nel (NLLSF) to Sector Perform from Outperform with a price target of NOK 4, down from NOK 12. The firm expects sentiment and commercial activity to remain subdued at least in the first few months. Despite headwinds and growing liquidity difficulties affecting manufacturers, RBC still sees a strong case for green hydrogen to decarbonize refining and chemicals and believes some names exhibit stronger risk/reward profiles than others.
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Read More on NLLSF:
- Nel re-initiated with a Reduce at Kepler Cheuvreux
- Nel downgraded to Underperform from Hold at Jefferies
- Nel ASA Secures EU Grant for Hydrogen Tech Expansion
- Nel price target lowered to NOK 5.50 from NOK 7 at Berenberg
- Nel ASA Sees Revenue Growth Amid Market Challenges
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
