NESTE siktar högt med förnybart

Here is a recent analysis of Neste, whose share price has plunged significantly.

But… is it still… cheap? :slight_smile:

Neste’s Q3 report or the first comments from the new CEO offered no surprises. The market outlook for Renewable Products, suffering from oversupply, is challenging also for next year, but with market growth, we expect the current low gross margin to be higher in the medium term. Relative to these forecasts, the stock valuation is rather moderate looking over next year, so we reiterate our Accumulate recommendation. Reflecting our estimate changes, we lower our target price to EUR 17.5 (was EUR 19.0). The Q3 interview with Neste’s new CEO can be viewed here.