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 increased the price target from EUR 112.00 to EUR 118.00 (english version).
ABO Wind has again increased guidance for the 2022 net result. After raising guidance from €13.8m to almost €17m at the beginning of December 2022, ABO now expects a net result of €20m – €25m. The main reason for the increase is project successes achieved before the end of 2022. The 2022 net result should now significantly exceed the previous record net income of €17m from 2017. The renewed guidance increase confirms our positive view on the company. An updated DCF model yields a new price target of €118 (previously: €112). Despite the very good share price performance since mid-November 2022, we still see significant upside potential. We reiterate our Buy recommendation.