First Berlin Equity Research has published a research update on CR Capital AG (ISIN: DE000A2GS625). Analyst Ellis Acklin reiterated his BUY rating and decreased the price target from EUR 53.00 to EUR 50.00.

Abstract
Full year reporting further burnished CR Capital’s credentials as a green company builder. Net income tallied €64m in 2022 marking another year of double digit bottom line growth (+15%). The investment portfolio continues to take shape with the ramp up of Solartec operations, while Terrabau’s green homebuilding activities have remained highly resilient in the property sector dislocation. Near-term prospects for the holdings are excellent, thanks to a 600 unit townhome pipeline, no debt worries, and a thriving PV sector prodded by policy maker commitments. We remain
Buy-rated on CR Capital with a €50 TP (old: €53).