First Berlin – aventron AG Research Update (16/01/2019)

First Berlin Equity Research has published a research update on aventron AG (ISIN: CH0023777235). Analyst Dr Karsten von Blumenthal reiterated his BUY rating and maintained his CHF 13.50 price target.

Abstract
aventron continues to successfully implement its growth strategy. In the first half of 2018, the company increased its portfolio capacity from 386 MW to approximately 465 MW (+20%). In the second half of the year, expansion in the hydropower sector was pushed ahead. At the beginning of 2019, aventron announced that it plans to build two subsidy-free solar parks with a total capacity of 100 MW in Spain. This brings the company even closer to its goal of building a green power portfolio with a total capacity of 1,000 MW by 2030. After strong half-year results, aventron had raised its guidance for 2018. We confirm our Buy recommendation and CHF 13.50 price target.