First Berlin Equity Research has published a research update on SFC Energy AG (ISIN: DE0007568578). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 31.00 price target.

Abstract
SFC Energy has received a large follow-up order (€19m) in the Clean Power Management segment. The order is from a leading international high-tech equipment manufacturer and is for high-performance power supply and coil solutions. This is the second large order since the start of the year. The company recently secured a fuel cell order with a volume of several million euro (FBe: mid single-digit) from BauWatch. The strong order entry in January underpins our 2025E growth forecast (+22% y/y). An updated DCF model yields an unchanged €31 price target. We believe that SFC is attractively valued for a growth stock and confirm our Buy recommendation.