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 97.00 price target.

Abstract
ABO Energy has been awarded contracts for five projects totalling 80 MW in the Federal Network Agency’s May tender for onshore wind. This latest success in the tender demonstrates the company’s competitive strength. In the first half of the year, ABO Energy was already awarded contracts for 120 MW after a total of 200 MW in 2024. These 320 MW represent a revenue potential of around €320m (FBe) and are expected to be completed by the end of 2027. The high number of awards and the even higher number of permits for onshore wind turbines in Germany (265 MW in H1/25 after 335 MW in 2024) make us very confident that ABO Energy will at least achieve the strong earnings growth we forecast for 2026E & 2027E. Despite the excellent business conditions, the ABO Energy stock is attractively valued at a consensus P/E ratio of 10x. We reiterate our forecasts and maintain our Buy recommendation at an unchanged €97 price target. Upside potential: 113%.