First Berlin Equity Research has published a research update on ABO Energy KGaA (ISIN: DE0005760029). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 110.00 price target.

Abstract
ABO Energy presented convincing half-year figures and confirmed guidance. The company increased its net result by 28% y/y to €11.4m, exceeding our forecast by 19%. The main reason for the good result was milestone payments for Spanish projects that have already been sold. Given that the second half of the year is usually seasonally stronger, we believe that net income guidance of €25m – €31m is well within reach. We confirm our forecasts for the current year and maintain our Buy recommendation at an unchanged €110 price target.