Euroxx Securities raised the target price for the PPC share to 16 euros each from 13 euros previously, in a report, where it maintains the “overweight” recommendation.
According to the stock exchange, the increase in the target price for the share of PPC is based on the higher value it sees in the company, which will depend on the successful implementation of its aggressive but promising business plan.
Euroxx notes that in its view, PPC has strong “papers” in the course of its energy transition (aggressive de-ligation and RES development) with great potential for restructuring. In addition, he considers that the recent increase of the company’s share capital and the inclusion of its title in the MSCI Greece Standard Index are positive catalysts, which increase the recognizability / liquidity of the share and its institutional share base.
The stock exchange estimates that PPC will show adjusted EBITDA of 849 million euros in 2021, reduced by 4% on an annual basis due to adverse conditions created by rising raw material and energy prices.
Assuming that PPC in the year 2022 will be able to pass on the variability of the cost of the energy mix in its tariffs, the stock exchange estimates that EBITDA will increase by 8.1% on an annual basis to 918 million euros. Overall, it expects the company to show an average annual increase of EBITDA of 9.9% in the period 2021-2024.
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Source From: Capital
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