First Berlin – SFC Energy AG Research Update (19/06/2018)

First Berlin Equity Research has published a research update on SFC Energy AG (ISIN: DE0007568578). Analyst Dr. Karsten von Blumenthal reiterated his ADD rating and maintained his EUR 9.50 price target.

SFC Energy successfully placed 500k shares with institutional investors at a price of €8.44 per share. The €4.2m in gross proceeds will be used to finance growth of both SFC's civilian and defence businesses. We stick to our revenue and EBIT forecasts for 2018E and the following years. We have accounted for the capital increase in our model which still yields a €9.50 price target. Our rating remains Add.