First Berlin Equity Research has published a research update on clearvise AG (ISIN: DE000A1EWXA4). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 3.10 price target.

Abstract
The clearvise share has been trending downward since mid-June, and the profit warning issued by competitor 7C Solarparken on 1 July temporarily put the share under considerable pressure. Low electricity prices, persistently elevated interest rates, increased costs (inflation, raw materials) and fierce competition for green power assets are not only weighing on the clearvise share, but also on other independent power producers (IPPs). Do the negative factors justify the lower share price or is it worth taking a second look? We currently consider clearvise to be attractively valued, as in our view the market is failing to recognise the opportunities that are opening up for the company. In contrast to 7C Solarparken, a pure PV power producer, clearvise has a portfolio that is stronger in wind power (approx. 2/3 of electricity production) than in PV. Low exchange electricity prices are hardly relevant for clearvise, as its green power assets either receive a fixed EEG feed-in tariff or long-term secured prices via power purchase agreements (PPAs). Recently, some listed IPPs were acquired at strategic premia well above their share prices. clearvise has an anchor shareholder in EQT, which now holds a stake of more than 25% and could take over the company. The rapid growth of AI applications will greatly increase power consumption and could lead to surprises in the development of electricity prices. Significantly higher electricity prices, as seen recently during the 2022/23 energy crisis, could once again act as a catalyst for the share prices of green power producers. We confirm our Buy recommendation and the €3.10 price target.