Nordea acclaims Hexagon Purus 'unique' offering, starts with 'buy'

Hexagon Composites ASA

11/03/2022 14:21

** Nordea starts coverage of Oslo-listed Hexagon Purus
 HPUR.OL  with a "buy" rating, pointing to the company's "truly
unique offering to the market" 
    ** What the broker finds special about Purus' product
portfolio is the combination of H2 high-pressure type 4
cylinders with battery packs and electric drivetrain integration
that enables it to service a wide range of end markets
    ** In its view the company's offering is a key to achieve
net-zero emission targets and given different sectors and
countries' decarbonisation efforts it creates a "simply vast
market for enablers" 
    ** Nordea also flags Purus has a significant edge over peers
thanks to decades of expertise through its parent company
Hexagon Composites  HEX.OL 
    ** It finally adds it is comforted by the company beating
previous sales goals and expects it to achieve its near- and
medium-term revenue targets 
    ** Shares of Hexagon Purus are up nearly 22% in afternoon
trade on Friday after rising as much as nearly 30% earlier in
the day


 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))