TP ICAP MIDCAP analyst maintained a Buy rating on Altea Green Power S.p.A. on October 3 and set a price target of €12.00.
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TP ICAP (Europe) S.A. has given its Buy rating due to a combination of factors that highlight Altea Green Power S.p.A.’s strong strategic positioning and resilience in the market. The company’s proactive approach, particularly in anticipating lower prices in the MACSE auction, has allowed it to maintain its guidance without significant impact. This cautious strategy, coupled with the strength of existing contracts, provides a solid foundation for future growth.
Moreover, the promising outlook of the BESS market, despite the competitive dynamics of the recent auction, signals potential for long-term profitability. Altea Green Power’s diversified portfolio, especially its projects outside the MACSE auction’s scope, positions it advantageously to capitalize on more lucrative opportunities in the spot market. The company’s ability to navigate regulatory and permitting challenges further underscores its capability to sustain growth, justifying the Buy recommendation.
In another report released on September 24, Intesa Sanpaolo also maintained a Buy rating on the stock with a €11.90 price target.