Det här är en färsk analys av Neste. Framtiden ser nu enligt min mening bättre ut än tidigare. 
Neste’s Q2 comparable EBITDA was slightly below our forecasts, but the lower-than-expected sales margin in Renewable Products in particular made the overall picture negative. The very weak market for Renewable Products has probably bottomed out, but the rate of market recovery and its timing are of course unclear. We believe the segment’s long-term sales margin will be higher than the recent lows, relative to which we believe the stock’s valuation is moderate. Thus, we reiterate our Accumulate recommendation but cut our target price to EUR 21.0 (was EUR 21.5), reflecting estimate revisions.