Battolyser Systems raises EUR 30m in Series A funding round
Sep 12, 2024 11:35 CESTJun 13, 2014 - SNS Securities sees upward potential for Dutch Royal Vopak (AMS:VPK) in the long term although the coming few quarters would be difficult for the oil storage firm, the bank said today.
According to SNS, the effects, which will put the upcoming quarterly results under pressure, such as lower prices and the delay into the Hainan terminal project, are already factored in the share price. Furthermore, the market is too pessimistic about the competition for locations and changes in products, among which oil and shale gas.
The bank further sees positive points in Vopak's master plan for improving the network and capacity, as well as in the restructuring of its joint venture Vopak EOS. SNS believes the company will give details about the progress of these undertakings at the release of its first-half financial figures. New orders will probably be announced as well, along with a target for the earnings before interest, tax, depreciation and amortisation (EBITDA).
SNS maintained its "buy" recommendation on Vopak but slashed the share price target to EUR 47 from EUR 52. Shares in the company were trading 0.08% down to EUR 37.88 by 1406 CET in Amsterdam on Friday.
Battolyser Systems raises EUR 30m in Series A funding round
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