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Powercell: Continued growth and solid outlook - Redeye

Redeye sees no big drama in the Q1 report and expect continued solid progress as the business pipeline materializes. Powercell’s traction within the marine segment is particularly encouraging, with the Norwegian mega-order of EUR19m validating its position and future potential. The shares have taken a serious beating lately and we now see some potential on the upside, despite lowering our forecasts and valuation somewhat.

Redeye sees no big drama in the Q1 report and expect continued solid progress as the business pipeline materializes. Powercell’s traction within the marine segment is particularly encouraging, with the Norwegian mega-order of EUR19m validating its position and future potential. The shares have taken a serious beating lately and we now see some potential on the upside, despite lowering our forecasts and valuation somewhat.
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