Kjell Inge Røkke’s renewable company Aker Horizons had a steep decline at the beginning of the year, before the share recovered 60 percent in the past month.
This week has been particularly good for the Røkke share, which rose 30 percent after it became known on Wednesday that the company had sold the remaining shares in Rec Silicon.
Now it is time for a further upturn for Aker Horizons believes several brokerages in updates on the stock on Friday, according to TDN Direkt.
On Friday morning, Aker Horizons is up 2 percent and is traded for NOK 25 on the Oslo Stock Exchange. The fall in prices so far this year has thus been reduced to 25 per cent.
If the brokerage houses that predict a further solid upturn for the Røkke share get it right, the steep fall in prices this year may soon be zeroed out.
30 percent upside
Nordea Markets is very positive about Røkkes’ renewable company in Friday’s market update. The brokerage repeats the buy recommendation on Aker Horizons and raises the price target to NOK 34 per share. share, from previously NOK 26.
Nordea Markets thus eyes the Røkke share further up just over 31 per cent for investors who pull themselves together on the bet.
The brokerage points out that “Aker Horizons has announced an agreement with Mitsui to buy 27.5 percent of Mainstream Renewable Power (MRP) for 575 million euros in new equity, which indicates a 30 percent upside to the book value of MRP”.
According to Nordea, the transaction reduces the downside risk in the valuation of MRP and capitalizes the company for further growth and opportunities, writes TDN Direkt.
“We believe that combined ambitions with Mitsui provide fuel for growth opportunities and implementation power in the future,” the update states.
Røkke and Aker continue to announce major renewable transactions. There is now a buy signal in the Aker Horizons share, this technical analysis from 24 March shows.
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Upgrading to “buy”
In its update on Aker Horizons on Friday, Carnegie raised the recommendation for the renewable share to buy, from previous “hold”, after the last week’s positive news.
Meglerhuset, which is behind with the price target on Aker Horizons after Wednesday’s price increase, almost doubles the price target to NOK 30 per share. share, from previously NOK 18, in the update.
According to the news agency, Carnegie justifies the purchase recommendation and the new price target with several value-creating transactions raising Aker Horizons’ value-adjusted equity (NAV) by NOK 4 per share. share at NOK 28. The valuation of Mainstream is adjusted upwards to NOK 17.8, from the previous NOK 13.8.
On Wednesday, Finansavisen wrote that Aker Horizon’s sale of the Rec shares to Hanwha Solutions for NOK 20 per share, or NOK 1.4 billion, corresponded to an upside of 22 per cent compared with the closing price of NOK 16.4 in Rec Silicon on Tuesday.
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