MCPHY ENERGY : price target lowered by Oddo BHF
Although the specialist in hydrogen production and distribution equipment reported full-year sales close to its expectations, the research department points to a weaker backlog, leading it to revise its 2024 expectations downwards.
'The sector as a whole remains largely under pressure, and McPhy has not been spared, with a fall of 72% in 2023 and 23% since the start of the year. Visibility remains uncertain, while the company will have to manage the ramp-up of Gigafoctory", warns the analyst.
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