- (PLX AI) - Nel is trading at an excessive premium to competitors such as McPhy Energy, analysts at Kepler Cheuvreux said, cutting their price target for the Norwegian company in half.
- • Price target cut to NOK 10 from NOK 20
- • Recommendation remains reduce
- • Large hydrogen projects are not competitive and are waiting for government support to bridge the gap, Kepler said
- • Still, the broker said it remained optimistic in the long term about green hydrogen, and expects Nel to reach a 5% share of the global market in 2050