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 decreased the price target from EUR 102.00 to EUR 99.00.

Abstract
ABO Energy is guiding towards 2024 net profit of some €25.6m. This is above recently lowered guidance (€20m to €25m) and back within the original guidance range of €25m to €31m. The reason for the outperformance is improved valuation of projects due to favourable business development. We have raised our net profit estimate to €25.6m and maintained our growth forecasts for 2025E & 2026E. ABO Energy should benefit in particular from a fast-growing German market over the next two years. The recent significant increase in long-term interest rates in Germany (yield on the 10-year German government bond now at 2.8%) leads to a higher WACC estimate and a lowering of the price target from €102 to €99. We confirm our Buy recommendation.