Photon Energy Share receives Buy recommendation from AlsterResearch analysts

Issuer: Photon Energy NV / Keyword(s): Study results

Photon Energy Share receives Buy recommendation from AlsterResearch analysts

26.04.2022 / 07:57
The issuer is solely responsible for the content of this announcement.

Photon Energy Share receives Buy recommendation from AlsterResearch analysts

Photon Energy Group’s stock received a “buy” recommendation from AlsterResearch, an independent German research firm specializing in small and mid caps; analysts have set a target price of 4.10 EUR (approximately 19.0 PLN, 100.0 CZK) for the shares of the Company.

– Analysts have highlighted Photon Energy Group as a frontrunner in the solar market, well positioned to benefit from current trends in the energy sector: the growing competitiveness of solar technology amid rising electricity prices.

– The Company’s decision to pursue a merchant model in the future, as well as its ability to partially transition its power plants from fixed feed-in tariffs to higher market prices could result in significantly higher growth than its peers .

Amsterdam – April 26, 2022 – Photon Energy NV (WSE&PSE: PEN, FSX: A1T9KW) (‘Photon Energy Group’ or the ‘Company’) announces that its stock has received a Buy recommendation from AlsterResearch, a Hamburg-based research house specializing in small and medium – caps. The research report sees the Company as a forerunner in the solar market with a clear focus, well positioned to benefit from current trends in the energy sector. Analysts have high expectations for Photon Energy Group’s growth prospects and begin their coverage with a buy recommendation, setting a target price of EUR 4.10 (around PLN 19.0, CZK 100.0) for the shares of the society.

Photon Energy Group’s growth was driven by its strong pipeline of projects and the growing competitiveness of solar energy, a result of the sharp decline in production costs and rising electricity prices.

AlsterResearch sees solar as an essential part of decarbonising economies and therefore expects it to be the fastest growing source of renewable energy. Photon Energy Group fits well into this trend, combining strong ESG credentials with transparent reporting and open capital markets communications.

The Company’s decision to supply clean power directly to the market on a merchant basis in the future and its ability to partially transition some of the plants in its IPP portfolio from fixed feed-in tariffs to higher market prices could drive an estimated compound annual growth rate (CAGR) for 2021 – 2024 of 37% for revenue and 72% for EBITDA.

According to AlsterResearch, the above factors make shares of Photo Energy Group highly investable despite its relatively small size.

Full details of the recommendation are available on the AlsterResearch and Photon Energy Group websites.

About Photon Energy Group photonenergy.com

Photon Energy Group provides solar energy and potable water solutions worldwide. Its solar energy services are provided by Photon Energy; Since its inception in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 100 MWp and has power plants with a combined capacity of 90.5 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of 746 MWp in Australia, Hungary, Poland and Romania and providing operation and maintenance services for more than 310 MWp worldwide. The group’s second major business, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy NV, the holding company of Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt stock exchanges. The company is headquartered in Amsterdam, with offices in Australia and across Europe.

About Alster Research – alsterresearch.com

AlsterResearch is an independent equity research company, providing MiFID II compliant equity research. The reports are available on the ResearchHub digital platform (www.research-hub.de) or via email subscription at no cost or obligation. AlsterResearch also regularly organizes roadshows, round tables and conferences with key people in interesting companies.

Media Contact

Martin Kysly
Marketing and Corporate Communications Manager
Such. +420 774 810 670
Email: [email protected]

Contact Investor

Emeline Parry
Head of Investor Relations and Sustainable Development
Such. +420 702 206 574
Email: [email protected]

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