SoFi CEO enters prepaid forward contract on 1.5 million shares
On Friday, Kepler Cheuvreux adjusted its stance on Avantium N.V (AVTX:NA), downgrading the stock rating from Hold to Reduce, while maintaining a price target of EUR10.00. This decision followed the company’s recent annual general meeting (AGM), where all items on the agenda were approved, including a share split. Subsequently, Avantium’s share price experienced a significant leap, closing 23% higher at EUR13.
The firm expressed that their perspective on the success potential of Avantium’s FDCA, a key product in the company’s portfolio, remains consistent. Despite the share price surge, Kepler Cheuvreux reiterated its price target of EUR10, indicating that the stock may be overvalued at its current level.
Avantium is in the process of extending its existing debt facilities, with the aim to push the maturity date to March 2026 and potentially March 2027. This extension, along with an increment of EUR20 million in the facility, is contingent upon the company securing additional equity. The analyst pointed out that more funding is required for Avantium to progress.
The company is also making strides with the commencement of its FDCA plant. If successful, this could lead to the procurement of a EUR10 million subordinated loan and a EUR3 million subordinated shareholder loan, further bolstering Avantium’s financial position and supporting its ongoing projects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.