Goldman Sachs analyst Michele Della Vigna downgraded Nel (NLLSF) to Neutral from Buy with a price target of NOK 3, down from NOK 6. The firm says the hydrogen market slowdown leaves Nel mostly without a backlog after 2025. Moreover, it believes that, within the next two years, the company may reach a net-debt position and additional funding may be needed to support growth and operational stability.
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Read More on NLLSF:
- Nel upgraded to Hold from Sell at Nordea
- Nel downgraded to Sector Perform from Outperform at RBC Capital
- Nel re-initiated with a Reduce at Kepler Cheuvreux
- Nel downgraded to Underperform from Hold at Jefferies
- Nel ASA Secures EU Grant for Hydrogen Tech Expansion
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
