First Berlin Equity Research has published a research update on ABO Energy KGaA (ISIN: DE0005760029). Analyst Dr. Karsten von Blumenthal reiterated his ADD rating and maintained his EUR 8.00 price target.

Abstract
ABO Energy has concluded a standstill agreement with the creditors of key financing arrangements, thereby taking the first step towards restructuring. The next steps are to prepare a restructuring report and, based on this, a restructuring concept, as well as to involve the bond creditors. ABO Energy has commissioned the restructuring specialist Hübner to implement the restructuring. We note that the restructuring process is beginning to take shape. In our updated DCF model we assume a successful restructuring. We reiterate the €8 price target (upside: 19%) and our Add recommendation.