Nel Faces Delayed Revenues, Lower Margins, Carnegie Says, Cutting Price Target in Half

• (PLX AI) - Nel faces delayed revenues and lower margins, Carnegie analysts said, cutting their price target for the stock in half.
• • Revenues are pushed out as short-term order inflow is affected by the pandemic, while margins are coming down due to increased raw material costs and operating expenses, Carnegie said
• • These effects will hit harder than the consensus assumes, the analysts said
• • Price target cut to NOK 14 from NOK 30, with recommendation remaining hold
• • Long term, the hydrogen market remains in an upcoming mega-trend with Nel in pole position, but the inflection point is pushed back in time, and the share price could swing either way in the short term, the analysts said
• • Nel was down slightly in early trading on Thursday at NOK 13.71