One & One Green Technologies stock soars 100% after IPO debut
Investing.com - UBS initiated coverage on Grenergy Renovables SA (BME:GRE) with a Buy rating and a price target of EUR95.00, citing the company’s strong position in battery energy storage systems (BESS).
The Spanish renewable independent power producer (IPP) focuses on solar and battery technologies, with UBS noting that stand-alone battery economics have reached a turning point that should catalyze rapid capacity additions.
Despite Grenergy’s shares rising nearly 90% year-to-date, UBS believes the current price only reflects existing capacity, sold projects, and flagship solar+BESS projects, without accounting for the standalone battery storage opportunity.
UBS estimates the unpriced standalone BESS opportunity and additional solar+BESS projects could be worth approximately EUR50 per share.
The investment bank projects Grenergy will deliver 29% net income growth from 2024-2029, significantly outpacing both peers at 11% and the broader sector at 8%, while trading below peers on 2028 price-to-earnings ratios.
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