First Berlin Equity Research has published a research update on clearvise AG (ISIN: DE000A1EWXA4). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 3.70 price target.

Abstract
clearvise plans a capital increase of up to €25m by issuing up to 12m shares at €2.10 per share. The capital raise will be used to finance the planned growth of the green power portfolio and is particularly intended for the acquisition of the Tion portfolio (159 MW) as well as two additional solar projects with a combined capacity of ca. 49 MW. After successful completion of all three projects, the green power portfolio will have a capacity of ca. 511 MW (currently: 303 MW). We assume a successful placement and have adjusted our model accordingly. Our updated DCF model still yields a €3.70 price target following the marginal changes to our estimates. We confirm our Buy recommendation.