Boostheat: Berenberg starts coverage with "buy"

Boostheat SAS

20/11/2019 06:36

** Berenberg starts coverage of French boiler company
Boostheat  BOOST.PA  with a "buy" rating and a TP of EUR 16.50
    ** "We believe that Boostheat is entering the market at the
right time with its breakthrough innovation in terms of
efficiency, and with a novel commercial approach that should
prove to be popular among installers," the brokerage adds
    ** Berenberg says it expects Boostheat to achieve a market
share of 5-7% by 2023E and deliver an EBIT margin of 16% by
2026E
    ** The brokerage adds that the stock of current boilers in
the EU is old and inefficient, with Boostheat's boilers as a key
lever in the transition to a low carbon future
    ** Boostheat listed its stock on the Euronext market in
Paris in an initial public offering last month  urn:newsml:reuters.com:*:nFWN26F0VH
    

 ((Tommyalexander.lund@thomsonreuters.com))