Eurobank Equities proceeded with a downward revision of the target price for the PPC share, to 14.50 euros against 14.80 euros per share, with a “purchase” recommendation, estimating that the share shows a margin to rise from the current levels 47 , 3%.
According to the stock exchange, the revision of the target price is attributed to the amount of capital raised during the increase of the company’s share capital, amounting to 1.35 billion euros compared to 1.2 billion euros which was an estimate in its previous report.
Eurobank Equities points out that PPC’s business plan seems feasible, with a lower risk than that related to the development of RES projects, due to the company’s position in the market and its green transformation.
As one of the largest suppliers of electricity in the country, PPC faces substantially significantly lower commercial risk, even with the assumption that market share will decline in the future.
He added that the plan to phase out lignite supports the need to scale up RES to maintain security of supply, while noting that most of this capacity is likely to be installed in former lignite areas with an existing connection to the network.
In other words, the stock exchange states that the share capital increase will facilitate PPC to proceed with more aggressive growth in Renewable Energy Sources and to take advantage of the growth opportunities presented internationally.
He adds that the faster development of RES by PPC will also support Greece’s “green” agenda and the country’s energy transition.
.
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
