First Berlin Equity Research has published a research update on ABO Wind AG (ISIN: DE0005760029). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 118.00 price target.

ABO Wind has sold five Spanish renewable energy projects with a total capacity of 250 MW to Repsol Renovables. ABO Wind will further develop the five projects, which the company started developing in 2018, until they are ready for construction. Commissioning is planned between 2024 and 2025. The portfolio sale is a major success for ABO Wind in the Spanish market and further evidence of the company’s successful international activities. An updated DCF model yields an unchanged price target of €118. We confirm our Buy recommendation. After the recent share price slide of around 20% since the beginning of February, investors can now buy the stock at a significantly lower price.