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NEL ASA (NLLSF) Gets a Buy Rating from RBC Capital

In a report released today, Erwan Kerouredan from RBC Capital maintained a Buy rating on NEL ASA (NLLSFResearch Report), with a price target of NOK23.00. The company’s shares closed last Friday at $1.20, close to its 52-week low of $1.00.

According to TipRanks.com, Kerouredan is ranked #5968 out of 7915 analysts.

Currently, the analyst consensus on NEL ASA is a Moderate Buy with an average price target of $1.78, which is a 33.8% upside from current levels. In a report issued on July 14, HSBC also upgraded the stock to Buy with a NOK17.00 price target.

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NEL ASA’s market cap is currently $2.03B and has a P/E ratio of -15.02.

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NEL ASA is a hydrogen company delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. It serves industries, energy and gas companies with hydrogen technology. The company’s hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. Its products include hydrogen electrolyser and among others. Geographically activities are functioned through the region of Norway.

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