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Investing.com - BNP Paribas Exane downgraded Neste Oyj (HE:NESTE) (OTC:NTOIY) from Outperform to Neutral, maintaining a price target of EUR19.00.
The downgrade follows a significant rally in Neste’s stock price, which has increased approximately 30% over the past three months and more than 50% year-to-date, bringing shares in line with the firm’s target price. InvestingPro data shows even stronger performance, with Neste shares posting a 112.43% return over six months and 77.18% year-to-date. The stock is now trading near its 52-week high of $11.29.
BNP Paribas Exane cited upcoming turnarounds and expected margin impacts at Neste’s Singapore operations in the first quarter of 2026 as key factors behind the rating change, suggesting the company’s quarter-over-quarter EBITDA growth since the third quarter of 2024 will likely end.
The research firm raised its 2025 estimates for Neste to reflect the company’s third-quarter earnings beat but left its 2026 and 2027 forecasts largely unchanged. According to InvestingPro data, analysts forecast EPS of $0.42 for fiscal year 2025, with the next earnings report expected on February 11, 2026.
BNP Paribas Exane’s current forecasts for Neste align broadly with market consensus, further supporting the neutral stance on the Finnish renewable fuels producer. With a market capitalization of $16.57 billion and an overall Financial Health score rated as "FAIR" by InvestingPro, Neste appears slightly undervalued against its Fair Value estimate.
In other recent news, Goldman Sachs has downgraded Neste from a Buy to a Neutral rating. This decision was primarily driven by valuation concerns, as Neste’s stock now trades at a 10% premium to its replacement cost. Previously, the stock was trading at a 35-40% discount, prompting the investment bank to adjust its stance. The price target set by Goldman Sachs for Neste is EUR17.00. These developments reflect the bank’s reassessment of Neste’s current market position.
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