First Berlin Equity Research has published a research update on Enapter AG (ISIN: DE000A255G02). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 13.00 price target.

Enapter has published guidance for 2024. The company expects sales of €34m and EBITDA of €-7m to €-8m. While sales guidance falls short of our previous expectation of €39m, EBITDA guidance exceeds our previous estimate of €-12.1m. Enapter is thus lowering its cost base more than we expected. We have adjusted our forecasts accordingly. A revised DCF model still yields a €13 price target. We confirm our Buy recommendation.