Inderes raises Neste to buy, target price 26.5 euros (22.0)
Inderes raises the recommendation to buy from sell and the target price to 26.5 euros, from 22.0.
ANNONS
"As a result of the conflict in the Middle East, we assess that the quarter will be quite good in terms of results. We have therefore made significant upward revisions to our estimates for the current year. Supported by the raised estimates and a strengthened cash flow, the stock's risk/reward looks attractive in our view," Inderes writes.
The estimates for 2026 are raised sharply, with comparable EBITDA up about 28 percent, driven by strong margins, and Q1 is expected to reach EUR 787 million. The valuation has fallen to P/E 15–16 and EV/EBIT 13–14.
Improved cash flow provides attractive risk/reward despite high volatility in margins.
